United

Eclipse

Bitcoin

<p>Cathie Wood, CEO of ARK Investment Management, predicts increased institutional adoption of Bitcoin, fueled by its performance during the current banking crisis in the United States. Anticipating institutional portfolios will diversify into Bitcoin, Wood asserts that this cryptocurrency could well dethrone gold as a safe-haven asset.</p> 
<h2 id="h-bitcoin-towards-an-eclipse-of-gold">Bitcoin: Towards an Eclipse of Gold?</h2> 
<p>Cathie Wood, CEO of ARK Investment Management, predicted in March 2023 an increased institutional adoption of Bitcoin. <strong>The US banking crisis has motivated this prediction</strong>, as BTC performed well during this period. Wood expects institutions to diversify their portfolios by investing in Bitcoin, following the precedent set with other assets. This anticipation is supported by the observation that Bitcoin reacted differently from stock markets during the crisis, offering an alternative option for institutional investors.</p>
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     <p lang="en" dir="ltr">Ark Invest CEO Cathie Wood said that Bitcoin is actually replacing gold as a value storage asset. BTC is acting more as a safe-haven asset and an asset for investors to pursue high-quality assets in times of economic uncertainty. This situation will Keep going, because there is…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1754665592089657420?ref_src=twsrc%5Etfw">February 6, 2024</a>
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<p>In a resounding speech broadcasted on YouTube and relayed by <a href="https://dailyhodl.com/2024/02/05/ark-invests-cathie-wood-says-substitution-of-gold-for-bitcoin-btc-now-underway/" target="_blank" rel="noreferrer noopener">Daily Hodl</a>, Cathie Wood, the flamboyant CEO of ARK Invest, declares that <strong>Bitcoin, the queen of cryptocurrencies, could well dethrone gold as the preferred safe-haven asset</strong>. According to her, during the turmoil of last year’s banking crisis, BTC surged by 40% while the index of regional banks wobbled.</p> 
<p>This trend, which Wood calls a “<strong>flight to quality</strong>,” suggests that <strong>investors turn to Bitcoin in times of economic uncertainty</strong>. However, the introduction of 11 Bitcoin ETFs momentarily rattled the market, a phenomenon Wood interprets as a simple “Sell-on-the-News” reaction.</p> 
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<p>Illustrating her point with a chart, Wood highlights Bitcoin’s bullish trend relative to gold, hinting at a potential <strong>relegation of the yellow metal to the background</strong>. She also mentions the increasingly easy access to BTC and the diminishing barriers to its acquisition, thus promoting its adoption.</p> 
<p>“The idea that this is a flight to quality or a flight to safety is really taking hold here. The reason we think Bitcoin fell after the ETFs were introduced is that there was <strong>a lot of preemptive buying prior to the release of the ETFs</strong>. There was a bit of ‘sell-on-the-news’, these are the types of traders who are very opportunistic in this way,” she hammered home.</p> 
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<h2 id="h-towards-promising-peaks-of-1-5-million">Towards Promising Peaks of $1.5 Million</h2> 
<p>Cathie Wood, prominent CEO of ARK Invest, foresees <strong>a Bitcoin reaching $1.5 million by 2030</strong>. This bold prediction, announced during a recent CNBC appearance, has stirred passions and fueled debates in the financial world.</p>  
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<p>Despite the recent market shakeup post-Bitcoin ETF launch, Wood remains confident, noting that the majority of Bitcoins in circulation seem to be in “strong hands” and not held by opportunistic individuals. With the SEC’s approval for spot ETFs, Bitcoin might well be on its way to a bull run. And why not <a href="https://www.cointribune.com/en/bitcoin-cap-at-1-5-million-cathie-wood-pushes-her-limits/" target="_blank" rel="noreferrer noopener">a new ATH at one and a half million dollars</a>.</p>

Yellow gold gives way: Cathie Wood’s prophecies on Bitcoin

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