Corporations to Continue to Add Bitcoin to their Balance Sheets - ARK's Cathie Wood

February 25, 2021 12:07 PM EST

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ARK Invest CEO Cathie Wood discussed bitcoin at today's Bloomberg Crypto Summit. Wood highlighted that the biggest surprise they have seen has been the diversification of company balance sheets to crypto - with some companies moving cash balances to Bitcoin, such as Tesla (NASDAQ: TSLA), MicroStrategy (NYSE: MSTR), and Square (NYSE: SQ). She expects this trend to continue.

Another thing Wood highlights is that "bonds have done their thing" and with interest rates now moving up, crypto could be the solution.

She said bitcoin could be viewed as an "insurance policy" for corporations. Further, she said bitcoin has trillions of dollars of market-cap potential.

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