Lens1000
VIP Contributor
El Salvador's embrace of bitcoin, according to Cathie Wood, has increased the number of citizens who may access financial services.
The CEO of Ark believes that investing in innovation will help people all over the world in the long term.
According to Wood, billions of individuals throughout the world have been able to access financial services because to mobile phone technology.
El Salvador's ambitious bitcoin goals may have met a snag in the crypto collapse, but Cathie Wood of Ark Invest has a positive word for them.
When asked if the finance business contributes to wealth disparity, Wood told Time magazine that directing cash to innovation in the long term will help people's lives all across the world.
The well-known investor cited El Salvador, where she feels President Nayib Bukele's bitcoin drive has provided citizens with new financial prospects.
"Every eligible adult in El Salvador will receive $30 in bitcoin from the president," she stated.
"And what we've seen there is that, while just 1.2 million people have access to financial services, owing to blockchain technology, 3 million individuals now have access to new banking and financial services."
El Salvador became the first country in the world to make bitcoin legal tender in September. The Central American country has created its own digital wallet, known as "Chivo," that allows individuals to withdraw money from over 200 ATMs.
The CEO of Ark believes that investing in innovation will help people all over the world in the long term.
According to Wood, billions of individuals throughout the world have been able to access financial services because to mobile phone technology.
El Salvador's ambitious bitcoin goals may have met a snag in the crypto collapse, but Cathie Wood of Ark Invest has a positive word for them.
When asked if the finance business contributes to wealth disparity, Wood told Time magazine that directing cash to innovation in the long term will help people's lives all across the world.
The well-known investor cited El Salvador, where she feels President Nayib Bukele's bitcoin drive has provided citizens with new financial prospects.
"Every eligible adult in El Salvador will receive $30 in bitcoin from the president," she stated.
"And what we've seen there is that, while just 1.2 million people have access to financial services, owing to blockchain technology, 3 million individuals now have access to new banking and financial services."
El Salvador became the first country in the world to make bitcoin legal tender in September. The Central American country has created its own digital wallet, known as "Chivo," that allows individuals to withdraw money from over 200 ATMs.
