Cathie Wood believes the price of Bitcoin will skyrocket if people lose faith in the monetary system

Cathie Wood of ARK Invest predicts Bitcoin’s (BTC) value will skyrocket if people’s faith in the banking system diminishes.

In a recent YouTube video, Wood asserts that Bitcoin’s decentralized characteristics and limited supply would attract capital seeking a more excellent store of value than what has been traditionally offered.

“[Bitcoin] is now serving as a store of value. And, if the current global monetary systems lose the general public’s trust, there will undoubtedly be a move towards crypto as a store of wealth. The price of Bitcoin will then skyrocket – remember, only two million Bitcoins are left to be mined.”

In addition, according to the CEO of ARK Invest, Bitcoin’s recent surge amid a financial crisis and widespread economic instability is evidence that it is starting to satisfy its function as a store of value.

As mining is restricted to 21 million units, the current inflation rate is 1.8% annually. This will be reduced to less than 1% in a few years and continue to decrease until we reach 21 million.

Currently, we have 19 million pieces in stock. Observing [Bitcoin’s] price go from $19,000 to [nearly $29,000] in a few weeks is conclusive evidence that people think it is a store of value and that the engineers, coders, and programmers who implemented this mathematical metering will not modify it.

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