Cathie Wood: Bitcoin is replacing gold as a value storage asset
In the latest update on YouTube, ARK Invest CEO Cathie Wood stated that Bitcoin is actually replacing gold as a store of value asset. She believes BTC acts more as a hedge asset and an asset for investors to "pursue quality assets" during uncertain economic times. Wood also shared a chart of Bitcoin priced in gold, which shows BTC's strong long-term upward trend. Cathie Wood said this reflects that Bitcoin is now partially replacing gold. She said: "This chart just shows you that even relative to gold, Bitcoin is rising. Now there are alternatives to Bitcoin, and we think this will continue because there's a simpler, less frictional way to access Bitcoin (spot ETF)."
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