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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-makes-strides-towards-becoming-preferred-safe-haven-asset" rel="noopener noreferrer nofollow">Bitcoin Makes Strides Towards Becoming Preferred Safe Haven Asset</a><br></p>
<p style="text-align: justify">Following the introduction of a spot <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-a-mixed-bag-of-high-volume-and-market-uncertainty" rel="noopener noreferrer nofollow">Bitcoin</a> ETF, cryptocurrency investments have surged with both individual and institutional players entering the market. Cathie Wood of Ark Invest suggests that Bitcoin is on track to usurp gold as the go-to safe haven asset much faster than anticipated. The backing of high-profile figures like Wood reinforces the belief in Bitcoin’s burgeoning role in the global investment sphere.</p>
<h2 id="the-rising-confidence-in-bitcoin">The Rising Confidence in Bitcoin</h2>
<p style="text-align: justify">Ark Invest CEO Cathie Wood has made a case for Bitcoin’s emerging status as a conservative investment choice, particularly in times of worldwide economic instability. Wood highlighted the cryptocurrency’s resilience during bank collapses last March, where its value witnessed a substantial 40% surge, drawing comparisons to its current robustness amidst ongoing economic fluctuations.</p>
<p style="text-align: justify">In recent developments, investor inclination towards Bitcoin has grown due to economic ambiguities, especially those stemming from China. Wood views the recent drop in Bitcoin prices, triggered by the release of multiple ETFs, as a market reaction to sell on news—a pattern seen often in investment cycles.</p>
<p style="text-align: justify">Supporting her stance, Wood presented a chart comparing long-term trends of Bitcoin and gold. The data illustrated Bitcoin’s superior performance against gold, hinting at a potential shift where Bitcoin could partly replace gold in investment portfolios due to its ease of access and lower entry barriers.</p>
<h2 id="investment-showdown-bitcoin-versus-gold">Investment Showdown: Bitcoin Versus Gold</h2>
<p style="text-align: justify">With a new financial crisis looming on Wall Street and companies planning significant layoffs in 2024, the debate intensifies over whether Bitcoin or gold will emerge as the stronger financial safeguard. Bitcoin supporters argue for its defensive strength against failing bond and stock markets, while Bloomberg Intelligence’s Mike McGlone predicts a weaker risk-adjusted performance for Bitcoin compared to stocks in 2024.</p>
<p style="text-align: justify">Contrary to the widespread belief that potential Fed interest rate cuts would favor risk assets like Bitcoin, McGlone expects that gold may actually outshine Bitcoin in the coming year, offering an alternative perspective on the future of safe haven investments.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-makes-strides-towards-becoming-preferred-safe-haven-asset" rel="noopener noreferrer nofollow">Bitcoin Makes Strides Towards Becoming Preferred Safe Haven Asset</a></h5>

Bitcoin Makes Strides Towards Becoming Preferred Safe Haven Asset

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