Cathie Wood, the CEO of ARK Invest, has expressed a strong preference for Bitcoin as a defensive asset in the current financial landscape. Wood's comments came during the Merryn Talks Money podcast, where she discussed the long-term outlook for various asset classes, including Bitcoin, gold, and cash.

Wood asserted that in her view, Bitcoin stands out as a top choice for a defensive asset. She justified this preference by pointing to the emergence of a new era of declining prices driven by technological advancements like artificial intelligence, electric vehicles, and blockchain. In her view, Bitcoin serves as a hedge against both inflation and deflation, as it carries no counterparty risk, making it a reliable store of value and a digital equivalent to gold.

Moreover, Wood anticipates a convergence between artificial intelligence and Bitcoin, envisioning the combination of these technologies as a powerful tool for addressing global challenges and enabling new divisions of labor.

This is not the first time Wood has spoken positively about Bitcoin. She has previously referred to it as a means of wealth preservation and a form of insurance, particularly for developing countries. Wood's optimistic outlook on Bitcoin underscores the growing recognition of cryptocurrencies as a legitimate asset class with valuable defensive attributes in today's financial landscape.