Bitcoin’s 60% Rally As US Banks Collapse; New Financial Revolution Is Coming

Reports suggest that Bitcoin’s value is increasing, indicating a financial revolution is underway.

Insights from the CEO of ARK Invest, Cathie Wood, indicate that Bitcoin is the future of money. In an interview with Barron’s, Wood highlights three reasons why she remains optimistic about digital assets.

One of these reasons is that Bitcoin surged by 60%, from $19,000 to $30,000, when some US regional banks collapsed earlier this year.

This suggests that investors are choosing Bitcoin as a safe store of value for their wealth. Wood predicts that this trend will continue to grow.

Wood stated that they are seeing three revolutions taking place because of crypto.

“Bitcoin will dominate the first one, the money revolution. The biggest proof is that when regional-bank stocks were falling apart earlier this year, Bitcoin went from $19,000 to $30,000. That was a flight to safety, and we expect it to accelerate. The centralized monetary system we have today is an aberration. We could be going back to the future – before the Federal Reserve existed – under a digital, rules-based monetary system with no government oversight.”

According to Wood, she has two additional reasons for being optimistic about the future. Firstly, she sees potential in decentralized finance (DeFi) and digital property rights, like non-fungible tokens (NFTs) and virtual real estate.

Secondly, there is a revolution happening in financial services known as DeFi, which will use Ethereum as its foundation. There are many infrastructure providers competing, and it will be interesting to see which ones come out on top.

Digital property rights, commonly referred to as NFT or the metaverse, is the third area of focus. It involves the buying and selling of virtual real estate in digital worlds.

The research associates, who often don casual attire without any branding, are also establishing their status in this realm.

Stay tuned for more news from the crypto space.