Bitcoin And Ethereum Are Symbols Of Flight To Safety Amidst Financial Crisis

It seems that Bitcoin and Ethereum and symbols of financial safety amidst the global crisis in which we are these days. Check out the latest reports about this below.

It’s been just reported the fact that ARK Invest CEO Cathie Wood says that Bitcoin (BTC) and Ethereum (ETH) are serving as flight to safety assets as the world’s economy becomes increasingly disrupted.

On a new episode of ARK Invest’s In The Know podcast, the chief executive likens the top two digital assets by market cap to gold. She was saying that they are acting as safe havens during tough economic times despite being known as volatile assets.

“These previously volatile, risk-on metrics are acting like flight to safety. We think this is a theme that you should be watching out for. We think a lot of innovations out there are going to be the flight to safety.”

She continued and said this:

“Why? Because they’re going to disrupt the traditional world order. What are Bitcoin and Ether doing? I mean by the very fact that they’re being considered flight to safety like gold, that’s really interesting and suggests much broader-based adoption and acceptance than I think most people understand.”

She also said that the disruption in the world’s order is being led by crypto assets themselves, and that the innovation of blockchain technology cannot be stopped.

“We would say that there is a flight to safety, certainly led by crypto assets, and it is telling us that the world is transforming and will continue to transform. You cannot stop innovation.”

It’s been just revealed the fact that the macro guru and fund manager Dan Tapiero is expressing bullish sentiment on Bitcoin (BTC) with a prediction that the market cap of the flagship crypto asset could hit 14 figures.

In a new interview with Anthony Pompliano, Tapiero made sure to explain the fact that he sees the market cap of Bitcoin reaching up to $10 trillion from just under $600 billion currently.