Bitcoin comment from 'Tesla bull'

Famous investor Cathie Wood, known for her positions in Tesla, stated that Bitcoin is 'digital gold' as a hedging instrument in the deflation environment.

Cathie Wood says she will focus on Bitcoin rather than gold or cash to hedge against the possibility of deflation over the next decade.

In response to a question on Bloomberg's Merryn Talks Money podcast about which of three asset classes he would prefer to hold for 10 years, Wood said: "Bitcoin, absolutely. Bitcoin is a hedge against both inflation and deflation because it has no counterparty risk and "Institutions are almost never involved. This is digital gold," he said.

Wood is known as one of the most optimistic voices on cryptocurrency. Wood had previously predicted that the price of Bitcoin would exceed $1 million within the next decade.

Wood is among the market players best positioned to benefit from ETF approvals in the cryptocurrency market. Wood's firm has filed for the 21Shares Bitcoin ETF, while Grayscale has also invested in the Bitcoin Trust.

Wood also said in the podcast that he expects a convergence between artificial intelligence and Bitcoin. According to Wood, this will “enable microtasking globally and division of labor in a way that we cannot currently imagine.”

The legal regulation regarding crypto assets has reached its final stage.

Minister of Treasury and Finance Mehmet Şimşek stated that they have reached the final stage of the legal regulation regarding crypto assets and said, "Our main goal with crypto asset regulation is to make this area safer and to eliminate the risks that may arise."

Şimşek made an evaluation about the legal regulation on crypto assets, which is under preparation.