Here is what Wood had to say about Bitcoin during this interview:
“Usually when there’s a parabolic move like Bitcoin enjoyed in 2017, it usually takes a generation for that asset or that stock to get back to that peak… I think part of this or the follow-through might have been triggered by again the bond yield pushing, doing what many people did not expect it to do. Have we made mistakes in monetary and fiscal policy that we are going to pay for in the future?– Most of us would say one of the ways typically is that ‘inflation inflating our way out of government debt’…
“I believe there is no better hedge against inflation than Bitcoin. As we know, gold has been moving, although now it’s lagging Bitcoin fairly dramatically so there’s probably some share shift but I do believe that both of them will do well over time… I think we’re going to hear about more companies putting this hedge on their balance sheet as well particularly tech companies who understand the technology and are comfortable with it.“
Back on 18 December 2020, when Bitcoin was trading around $23,000, during an interview on Bloomberg Television, Wood had this to say about her firm’s current level of bullishness on Bitcoin:
“We are extremely bullish. Our confidence in it has gone up since 2017 because what we saw as it dropped from $20,000 to below $4,000… was [that] Bitcoin’s share of the cryptoasset ecosystem moved from the low 30% range — in terms of value network values — into the low 70% range, and what did that tell us?
“That confirmed in our minds that Bitcoin is the reserve currency of the cryptoasset ecosystem. So it is the reserve cryptocurrency, which is a very important role. It’s the flight to safety currency. Bitcoin’s blockchain is the most secure of any blockchain, and so it makes sense that Bitcoin would be the reserve currency of the cryptoasset ecosystem.“
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.