- Investors are shifting from gold to Bitcoin following the launch of spot Bitcoin exchange-traded funds (ETFs).
- ARK Invest’s CEO, Cathie Wood, believes that Bitcoin is rising relative to gold and expects this trend to continue.
- Wood sees Bitcoin as a “risk off asset” and expects it to perform well when the banking sector displays weaknesses.
With the introduction of spot Bitcoin ETFs, investors are increasingly favoring Bitcoin over gold, according to Cathie Wood, the CEO of ARK Invest. Wood believes that Bitcoin’s value is surpassing that of gold and expects this trend to continue in the future. She also views Bitcoin as a “risk off asset,” meaning that it performs well during times of weakness in the banking sector.
This shift from gold to Bitcoin as an investment choice is significant and highlights the growing acceptance and appeal of cryptocurrencies in the financial markets. The launch of Bitcoin ETFs has provided investors with a more accessible and convenient way to trade Bitcoin, which has further fueled the interest in this digital asset. As more investors move towards Bitcoin, it will be interesting to see if this trend continues and how it may impact the value and perception of both Bitcoin and traditional assets like gold.