Ark Invest CEO Cathie Wood thinks Bitcoin (BTC) is starting to dethrone gold.
Cathie Wood, “When the regional banking crisis occurred in March last year, Bitcoin rose 40% while the GCI, the regional banking index, exploded. Now, with the regional banking index on the move again and the 11 ETFs having corrected somewhat after being established, we see Bitcoin starting to create opportunities again.” said.
Wood: Bitcoin price will rise after ETFs are approved “news-sell” He stated that he fell because of his logic. Comparing Bitcoin and gold charts, Wood added:
“This chart shows you that Bitcoin is rising even when compared to gold. “We think there is now a shift to Bitcoin and this will continue as it is now much easier to access Bitcoin.”