On December 5th, Cathie Wood, CEO of ARK Invest, took to social media to express her enthusiasm for Bitcoin, labeling it a pivotal moment for **digital property rights**. With the anticipated release of incoming SEC Chairman Paul Atkins’ new directives, there is hope that the regulatory landscape for **digital assets** will shift positively, thereby ensuring robust protections for private ownership in the virtual domain. Furthermore, Federal Reserve Chair Jerome Powell likened Bitcoin to a modern-day gold, underscoring the asset’s growing legitimacy. While the **gold market** boasts a staggering valuation of approximately $15 trillion, Bitcoin’s market capitalization is currently around $2 trillion, indicating that it remains in a nascent phase of growth. ARK Invest posits that Bitcoin’s intrinsic value and potential impact within the **financial ecosystem** significantly surpass that of traditional gold, highlighting the cryptocurrency’s promising trajectory.
Source: https://en.coinotag.com/breakingnews/cathie-wood-celebrates-bitcoins-potential-as-sec-chairman-looks-to-strengthen-digital-property-rights/