Bitcoin

Gold

ARK Invest Chief Executive Officer (CEO) and Chief Information Officer (CIO) <a href="https://bitcoinist.com/cathie-wood-refutes-jpmorgan-ceo-label-for-bitcoin/" rel="nofollow">Cathie Wood</a>, has expressed her optimism about Bitcoin’s capabilities to potentially rise above gold, referring to the cryptocurrency as <a href="https://bitcoinist.com/cathie-wood-hails-bitcoin-as-digital-gold/" rel="nofollow">‘the digital gold</a>.’ 
<h2 id="bitcoin-versus-gold">Bitcoin Versus Gold</h2> 
Appearing in a recent interview on <a href="https://bitcoinist.com/ark-invest-gains-edge-in-bitcoin-etf-approval-race/" rel="nofollow">ARK Invest’s </a>official YouTube channel, Wood and ARK Invest’s Chief Futurist, Brett Winton, <a href="https://youtu.be/hFg1TMACw4I?si=CXyL1Odfn4E9QDoi" rel="nofollow">delved into</a> a lengthy discussion about Bitcoin’s historical and most recent price movements in relation to gold.&nbsp; 
Describing <a href="https://bitcoinist.com/bitcoin-as-a-store-of-value-comparing-with-gold-and-fiat-currencies/" rel="nofollow">Bitcoin</a> as both a “store of value” and a “risk off asset,” Wood emphasized the cryptocurrency’s notable rise, particularly when <a href="https://bitcoinist.com/bitcoin-vs-gold-which-etf-rules-the-market/" rel="nofollow">compared to gold</a>. She shared a chart illustrating a Bitcoin to gold price ratio which revealed a robust and sustained upward trend for Bitcoin. This upward trajectory hints at the possibility of the cryptocurrency <a href="https://bitcoinist.com/25-b-bitcoin-etfs-outshine-precious-metal/" rel="nofollow">overtaking gold </a>as a more valuable investment in the future.&nbsp; 
Wood also discussed <a href="https://bitcoinist.com/ark-invest-ceo-cathie-wood-puts-bitcoin-over-500k-in-five-years-more-confident-in-ethereum/" rel="nofollow">Bitcoin’s performance </a>amid past economic crises. She highlighted a historical price pattern observed during the regional <a href="https://www.newsbtc.com/breaking-news-ticker/us-banking-crisis-worsens-with-half-of-americas-banks-on-the-verge-of-failure/">bank crisis</a> in March 2023, noting that Bitcoin rose as high as 40% while the regional bank index, represented by KRE, was imploding.&nbsp; 
Currently, the regional bank index is experiencing a similar crisis, and according to Wood, Bitcoin is following the same pattern by maintaining a steady ascent. She attributes this uptrend to the approval and introduction of <a href="https://www.newsbtc.com/breaking-news-ticker/breaking-sec-approves-all-11-spot-bitcoin-etfs-btc-price-holds-steady-at-46000/">11 Spot Bitcoin ETFs</a> into the cryptocurrency market.&nbsp; 
As a result, Wood has categorized Bitcoin as a “flight to safety” investment asset, providing a space for individuals to store their funds against inflation and the effects of the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-emerges-as-the-king-of-assets10x-growth-over-gold-during-us-banking-crisis/">economic crisis.&nbsp; </a>&nbsp; 
<h2 id="spot-bitcoin-etfs-expected-to-fuel-bitcoin-surge">Spot Bitcoin ETFs Expected To Fuel Bitcoin Surge</h2> 
After the <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" rel="nofollow">approval and launch of Spot Bitcoin ETFs</a> on January 10, 2024, Bitcoin faced an unexpected decline, relinquishing a significant portion of the gains accumulated during the pre-approval excitement. The cryptocurrency dropped from a 2023 all-time high of over $45,000 to below $40,000.&nbsp; 
Wood explained that <a href="https://bitcoinist.com/bitcoin-down-20-since-sec-etf-approval-is-it-still-bullish-or-is-this-new-token-a-better-option-with-halving-coming/" rel="nofollow">Bitcoin’s descent after the introduction of ETFs</a> resulted from intense anticipatory buying before the launch of ETFs, with a subsequent “sell on the news” <a href="https://bitcoinist.com/spot-bitcoin-etf-approval-sell-the-news-event/" rel="nofollow">event</a> driven by opportunistic traders. 
Looking ahead, the ARK Invest CEO anticipates Bitcoin’s continued rise, propelled by the broader accessibility facilitated by <a href="https://bitcoinist.com/spot-bitcoin-etf-flows-flip-gold-capital-rotation/" rel="nofollow">Spot Bitcoin ETFs</a>. She highlighted that Spot Bitcoin ETFs offered an easier and more inclusive avenue to access Bitcoin, attracting substantial inflows into the cryptocurrency as institutional investors actively participate in the market. 
<img loading="lazy" decoding="async" class="aligncenter" src="https://www.tradingview.com/x/CN3XOEvC/" alt="Bitcoin price chart from Tradingview.com (Gold)" width="3286" height="1530">

ARK Invest CEO Cathie Wood Believes Bitcoin Will Overtake Gold, Here’s Why

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