Cathie Wood: Thanks to ETFs, Investors Switched from Gold to Bitcoin
Bitcoin is replacing gold as a capital preservation asset, and this situation will continue in the future thanks to the emergence of ETFs. This was stated by ARK Invest CEO Cathie Wood.
To confirm her words, the specialist presented a graph of the ratio of Bitcoin to gold.
According to the CEO of ARK Invest, an exchange-traded fund is an easy and hassle-free way to acquire your first cryptocurrency.
Wood noted that digital gold acts as a safe-haven asset for investors seeking “quality” in times of economic uncertainty.
“Last year, during the US banking crisis, Bitcoin jumped 40% […]. At the moment [amid NYCB’s problems] we see that it is gaining momentum again,” she emphasized.
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