Cathie Wood: ETFs Shift Investor Focus from Gold to Bitcoin

Bitcoin is increasingly replacing gold as a capital preservation asset, a trend likely to continue with the advent of exchange-traded funds (ETFs). This was stated by ARK Invest CEO Cathie Wood.

To support her claim, Wood presented a chart comparing bitcoin to gold.

According to the ARK Invest CEO, an exchange-traded fund offers a simple and unobstructed way to acquire the leading cryptocurrency.

Wood noted that digital gold serves as a safe-haven asset for investors seeking “quality” during times of economic uncertainty.

“Last year, during the banking crisis in the US, bitcoin surged by 40% […]. Currently [amid issues at NYCB] we see it gaining momentum again,” she emphasized.

The ARK Invest CEO explained the price correction of the leading cryptocurrency following the ETF launch as a “sell the news” event.

Earlier, company experts predicted bitcoin could reach $120,000 to $2,300,000 by the end of 2030.

Previously, Wood forecasted the price of digital gold could rise to $1.5 million by 2030 under a bullish scenario.