Cathie Wood Says Bitcoin's 'Break Out' From Gold Is 'Very Reassuring': Ark CEO Says BTC Has 'Miles to Go' for This Reason

Veteran investor Cathie Wood described Bitcoin as both a risk-off and risk-on asset on Friday, while remaining bullish on its long-term prospects.Bitcoin-Gold Ratio to Increase?During Ark Invest’s “In The Know” episode, Wood shared her perspective on Bitcoin’s promising trajectory.She drew attention to a low correlation between Bitcoin and gold, suggesting a potential “breakthrough” for the cryptocurrency relative to the precious metal.“The correlation between Bitcoin and gold is very low by historical standards, and so to see Bitcoin starting to break out relative to gold is very reassuring from our point of view,” Wood said.Wood has frequently posited that , citing the 2020–21 and 2024–25 cycles as examples.Bitcoin Has Miles to Go, Says WoodWood, a known Bitcoin bull, emphasized the cryptocurrency’s role as a “technological revolution”, a new global monetary system and a first-of-its-kind asset class.“We think it has miles to go because of those three revolutions,” she addedThat said, Wood believed the “technology revolution” bit would put many companies “in harm’s way,” generating counterparty risk.“This idea of where the counterparty risk in the economy: that might accrue to the benefit of both Bitcoin and gold,” the Ark Invest founder said. “We think Bitcoin is both a risk-off and a risk-on asset.” Read Also: Wood’s Bullish ThesisWood has positioned Bitcoin as a that AI-driven growth investments cannot provide. She maintains her.She’s also described Bitcoin as a "critical public financial infrastructure" and demanded that those securing it have access to the "most powerful AI models" available.Notably, Bitcoin has outperformed gold over the past month, though its year-to-date losses have been steeper.Cryptocurrency30-Day Gains +/-YTD Gains +/-Bitcoin+21.69%-9.95%Spot Gold +1.82%-1.95% Read Also: Tokenized Nvidia and Tesla Are Becoming Trending Crypto Trades, CoinMarketCap Says Photo Courtesy: New Africa on Shutterstock.com