🧵 1. Cathie Wood of ARK Invest believes investors are shifting from gold to Bitcoin as a store of value due to easier access through ETFs. #crypto
🧵 1. Cathie Wood of ARK Invest believes investors are shifting from gold to Bitcoin as a store of value due to easier access through ETFs. #crypto
🧵 2. Wood suggests Bitcoin and gold can be "risk-off assets" during banking weakness, highlighting the March 2023 US regional bank crisis.
🧵 3. Fidelity analysis shows Bitcoin's correlation with gold rising in 2023, breaking its previous inverse relationship with interest rates.
🧵 4. ARK Invest's spot Bitcoin ETF, ARK 21Shares, holds over $700 million in BTC, making it one of the largest Bitcoin ETFs available.
🧵 5. As investors flock to Bitcoin, Wood predicts the ongoing substitution trend will continue, benefiting from the more accessible BTC market.
🧵 Read more at: https://finance.yahoo.com/news/cathie-wood-bitcoin-now-substituting-042615510.html