Cathie Wood: Bitcoin is replacing gold as a store of value asset

In the latest update on YouTube, ARK Invest CEO Cathie Wood said that Bitcoin is actually replacing gold as a store of value asset. She believes that BTC is more of a safe-haven asset and an asset that investors "pursue quality assets" during times of economic uncertainty.

Wood also shared a chart of Bitcoin priced in gold, which shows a strong long-term upward trend for BTC. Cathie Wood said this reflects that Bitcoin is now partially replacing gold. She said: "This chart just shows you that Bitcoin is rising even relative to gold. Now that Bitcoin has a substitute, we think this will continue because there is a simpler and less frictional way to access Bitcoin (spot ETF)."

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