According to ARK Invest CEO Cathie Wood, Bitcoin is the best form of defence against wealth confiscation and an insurance policy for the developing world. The investor, a longtime supporter of the crypto industry, maintains her $1 million Bitcoin price target, believing that the asset offers opportunities for wealth preservation to both the rich and the poor. “There’s hyperinflation all over the world because their currencies have fallen apart,” Wood told Yahoo Finance on Thursday. “These populations require a safety net, such as Bitcoin.”
