Bitcoin: Cathie Wood recommends that institutions buy more cryptos

© Reuters – Still positive on Wednesday morning, with the cryptocurrency holding above the key $28,000 threshold, posting a gain of more than 40% since the start of the current bull run on March 11.

BTC, like many other cryptocurrencies, has indeed largely benefited from the banking crisis, as well as its consequences in terms of and loss of confidence in traditional finance.

In an intervention on Bloomberg yesterday, Cathie Wood, CEO of Ark Invest, also defended this point of view, believing that the rise in the price of the during the banking crisis will encourage more institutional investors to take an interest in this sector. .

“The fact that bitcoin has evolved in a very different way to stock markets, in particular, has been very instructive,” Ms. Wood said. She also pointed out that “corporate treasuries had previously moved away from bitcoin on their balance sheets because regulators themselves were pushing them away from it.”

In this context, the famous manager advises investors to further diversify their portfolios in favor of cryptocurrencies. More specifically, it recommends that institutional investors allocate between 2.5% and 6.5% of their portfolios to cryptocurrencies “if they want this new asset class to diversify their portfolios”.

Recall also that Ark Invest wrote in a note earlier this week that bitcoin and other cryptocurrencies behaved like “safe havens”.

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