Bitcoin Emerges as ‘Flight to Safety’ Asset, Outshining Gold, Says Cathie Wood

ARK Invest’s CEO Cathie Wood believes determination is simply a displacement successful concern trends, specifically, a increasing penchant for bitcoin implicit accepted golden investments. This inclination has been peculiarly pronounced pursuing the motorboat of spot bitcoin ETFs, offering investors streamlined entree to the cryptocurrency.

Cathie Wood Says Investors Are Shifting From Gold to Bitcoin Amid Financial Uncertainty

In a recent video connected ARK Invest’s Youtube channel, CEO Cathie Wood said determination is simply a important displacement among investors moving from accepted golden investments to bitcoin. This shift, according to Wood, has go progressively evident pursuing the instauration of spot bitcoin exchange-traded funds (ETFs), providing a little cumbersome entree to the cryptocurrency.

During a dialog with Brett Winton, ARK’s main futurist, Wood pointed to bitcoin’s singular resilience and growth, particularly successful times of fiscal instability. She recalled the lawsuit of March 2023, erstwhile the U.S. faced a determination slope crisis, starring to a 40% surge successful bitcoin’s worth arsenic the determination slope scale plummeted. “Bitcoin changeable up 40% arsenic the KRE, the determination slope index, was imploding. And present again, the determination slope scale is acting up, and we are seeing Bitcoin drawback a bid again,” Wood stated, underscoring bitcoin’s emerging relation arsenic a “flight to safety” asset.

Wood shared a compelling illustration illustrating bitcoin’s terms successful gold, showcasing a strong, semipermanent uptrend. This trend, she explained, signifies bitcoin’s ongoing process of partially replacing golden arsenic a preferred concern choice. “This illustration conscionable shows you that adjacent comparative to gold, Bitcoin has been rising. There’s present a substitution into Bitcoin, and we deliberation that is going to continue,” she remarked.

Addressing the volatility pursuing the motorboat of spot bitcoin ETFs, including ARK 21shares Bitcoin ETF connected January 11, Wood explained that the consequent terms correction was anticipated. Despite a 20% driblet successful bitcoin’s terms post-launch, Wood remains optimistic, citing that 15 cardinal of the 19.5 cardinal bitcoin presently successful circulation person not moved successful implicit 155 days, suggesting a beardown holding signifier among investors.

ARK Invest’s strategical movements successful the cryptocurrency abstraction widen beyond bitcoin. The steadfast has importantly invested successful Coinbase banal (COIN), though it has scaled backmost its holdings since June 2023. As of now, ARK holds 7.187 cardinal shares successful Coinbase, valued astatine $843 million, reflecting its continued bullish stance connected the crypto assemblage contempt marketplace fluctuations.

Do you hold with Woods that investors who usually would question golden arsenic an concern are opening to displacement to bitcoin? Share your thoughts and opinions astir this taxable successful the comments conception below.