Investor Cathie Wood of ARK Invest is sticking to her bet that Bitcoin (BTC) will continue outperforming gold.
In a new video update, the ARK Invest CEO says that Bitcoin’s uptrend against the precious metal hasn’t been broken, despite a recent correction.
[adinserter block="1"]However, Wood notes the downturn in the Bitcoin to gold ratio may mean that the precious metal is “telegraphing” some kind of shift.
“Bitcoin to gold has not broken its uptrend, but has had a setback in here as Bitcoin has settled down and gold has continued to go up. Our bet is that Bitcoin will continue this uptrend over time, but we are paying attention to it, trying to understand what is gold telegraphing relative to Bitcoin.”
Wood says she’s also long-term bullish on the dollar and believes that a stronger dollar, combined with more innovative technology using the US as a launchpad, will make returns on American investments outperform other geographies.
“You can see it has had a correction. It has not broken its uptrend for the last 15 years. It’s probably in a new range, but we think if we’re right about this supercharged or turbocharged expansion with innovation at the leading edge, we think that the return on investment associated with that innovation and with these new tax laws and with the deregulation, is going to go up. The return on investment in the US is going to go up relative to that in the rest of the world.”
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