Cathie Wood asserts Bitcoin’s rise as a safe-haven asset, replacing gold and fueled by easier access through spot Bitcoin ETFs, predicting its sustained growth and mainstream adoption.
Bitcoin, the Safe Haven
Ark Invest CEO, Cathie Wood, remains unshakeable in her bullish Bitcoin stance, declaring it the new king of value storage, dethroning gold. In a recent YouTube update, she lays out her argument, highlighting “flight to quality” behavior and the power of newly launched spot Bitcoin ETFs.
Last year’s regional bank crisis saw Bitcoin surge 40% as the market imploded,” Wood points out. “Now, with similar jitters in the sector, and after a brief dip following the ETF launch, Bitcoin’s catching bids again. This ‘flight to safety’ trend is undeniable.” She attributes the initial dip to “anticipatory buying” and opportunistic traders, but maintains the long-term trajectory is clear.
Charting the Shift
Sharing a chart of Bitcoin priced in gold, Wood paints a picture of sustained growth. “Bitcoin’s been rising even compared to gold,” she explains. “This substitution is happening, and it will accelerate now that there’s an easier, less friction-filled way to access it through ETFs.”
Wood sees spot Bitcoin ETFs as a game-changer, opening the door for traditional investors hesitant to enter the crypto space directly. “These regulated instruments offer a familiar path, potentially attracting significant new demand,” she argues.
Wood’s conviction remains unwavering. She predicts Bitcoin’s dominance as a store of value to continue, fueled by increasing demand and mainstream adoption facilitated by ETFs. While some may doubt her vision, Wood’s bold predictions have a history of turning heads, and only time will tell if Bitcoin truly dethrones the golden reign.