If Bitcoin Is Digital Gold, Will Ethereum Become the Crypto Equivalent of Treasury Bills? Cathie Wood Sees a Correlation and a Potential Catalyst
One of the key reasons that Bitcoin (BTC 1.03%) has performed so well, topping $108,000 at one point last year, and been more resilient than the rest of the crypto sector is because investors view the token as a potential inflation hedge. Only 21 million Bitcoin tokens can ever be mined and there are already 19.8 million in circulation, making the world’s largest cryptocurrency a finite asset with similar dynamics to gold. Now, ARK Invest Chief Executive Officer Cathie Wood has said she believes Ethereum (ETH 1.99%) has begun to develop some unique characteristics of its own that could potentially position it as the crypto-equivalent of U.S. Treasury bills. If Wood is right, that could…
