Cathie Wood, founder and CEO of ARK Invest, stated that one of the reasons for Bitcoin’s record high this year is the devaluation of national currencies worldwide. The price of Bitcoin has risen more than 130% in the past 12 months, reaching a historical high of around $73,800 last month. Demand for Bitcoin spot ETFs from the United States has also surged. In a recent interview with CNBC, Cathie Wood proposed another perspective, referring to Bitcoin as an “insurance policy against rogue regimes and disastrous fiscal and monetary policies.” Two weeks ago, Wood reiterated her target price of $1.5 million for Bitcoin, calling it the “financial superhighway.” Wood stated on Wednesday:
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Bitcoin Momentum Slows! Leverage Risks Mount as Market Eyes Key Support at $110,000
On-Chain Analysis Company Glassnode ReportsOn-chain analysis company Glassnode noted in it…