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.”