Seasoned investor Cathie Wood said Saturday that Bitcoin (CRYPTO: BTC) holders may not hesitate to shift their holdings to a centralized cryptocurrency exchange to avail home loans.
What Happened: Wood, the CEO of ARK Invest, was responding to an X user who suggested that Bitcoin holders, who typically self-custody their assets, would be unlikely to move their holdings to a centralized exchange to help their loan applications.
Wood countered this view, stating, “Bitcoin hodlers probably have a large percent of their net worth in crypto and therefore have not been able to qualify for a mortgage. I wouldn't be surprised if they were to shift some of their Bitcoin to Coinbase to serve as collateral for a once unattainable new home.”
The COIN stock boasted a high Momentum and Growth ranking as of this writing. Find out how other cryptocurrency stocks stack up on these metrics using Benzinga Edge Stock Rankings.
Wood praised the directive, stating that it could bolster both crypto and housing significantly.
Wood has been an outspoken advocate of Bitcoin, forecasting that it will reach $700,000 in the coming years, with the bull case in the $1.5 million range.
Price Action: At the time of writing, Bitcoin was exchanging hands at $108,523.02, up 1.08% in the last 24 hours, according to data from Benzinga Pro.
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