Bitcoin is becoming a strong competitor to gold as a safe investment during economic uncertainty, says ARK Invest CEO Cathie Wood.
Wood highlights Bitcoin’s impressive performance during banking crises and its long-term uptrend relative to gold.
In a recent YouTube video, ARK Invest CEO Cathie Wood highlighted the increasing significance of Bitcoin (BTC) as a formidable contender to gold as a store of value. Wood’s insights come as Bitcoin displays its resilience and “flight to quality” attributes during economic uncertainty.
Wood pointed out that during last year’s regional bank crisis in March, Bitcoin surged by 40% while the regional bank index (KRE) was in turmoil. Presently, as the regional bank index faces challenges once again, Bitcoin has been regaining strength, further underscoring its reputation as a safe haven asset.
A Shift from Gold to Bitcoin
Wood provided an insightful chart that shows the long-term upward trend of Bitcoin in relation to gold. This implies tha

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