How does this visionary think bitcoin will ensure the future of the global economy? Find out here!

The’investor – a longtime bull for the crypto industry – stands by his $1 million bitcoin price target, believing the’asset presents wealth preservation opportunities for rich and poor alike.

There is hyperinflation all over the world because their currencies have collapsed” said Cathie Wood in an interview with Yahoo Finance on Thursday. “These populations need a fallback – an insurance policy like bitcoin“.

Cathie Wood believes that wealthy individuals also have much to gain by using bitcoin as a shield against the “confiscation” by inflation. The first crypto-currency in terms of market capitalization has a supply limit of 21 million coins, which makes it safe from depreciation by money printing, as is often the case with fiat currencies.

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But when it comes to defending against explicit confiscation in the regions “troubled” of the world, such as Russia and China, she argues that this asset can also contribute.

Although crypto-currency users often store the keys to their coins in hardware wallets, these are technically retrievable from anywhere if they remember their unique passphrase, usually a list of 12 to 24 random words.

Keep this key in your head and, at some point, you will be able to cross a border and recover your fortune“, added Cathie Wood.

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Cathie Wood’s flagship fund, ARK Innovation, had its best month in January since its inception in 2014. It closed the month at $39.93 per share, up 28 since January.

Much of its gains came on the backs of tech stocks, including Tesla and Roku, which rose 68% and 45%, respectively. The company’s crypto investments, including Coinbase and Grayscale Bitcoin Trust, have also played a role, up 142% and 67% year-to-date.

Grayscale has so far failed to turn its Bitcoin fund into a Bitcoin spot ETF – as have Cathie Wood’s attempts to launch a similar product in the United States.

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