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ARK Invest CEO Cathie Wood says that Bitcoin (BTC) is likely to continue surging higher based on its performance against one red-hot commodity.
In a new YouTube update, Wood shares a Bitcoin-to-gold chart that she says is still in an uptrend, partially due to BTC’s “anti-fragile” nature in recent years.
“This uptrend has not been broken. Again, this aligns with the net bullish risk-on kind of market that we think we’re in, and I guess you could call the markets anti-fragile, which is a description used in Bitcoin. It’s been able to withstand all kinds of turmoil and we think that the markets, the equities markets, are following Bitcoin in this regard.”
Source: ARK Invest/YouTube
Wood is also optimistic about the crypto industry given regulatory clarity from the Trump administration and what she believes is an incoming reconfiguration of the financial services space.
“We think this is a very powerful movement. We think the financial services sector is going to reconfigure completely in the next five to ten years, and that of course Bitcoin and now Circle and of course Coinbase as well. Robinhod, [and] others… SoFi is now moving back into crypto in a big way now that regulatory clarity is here. So, thank goodness for that.”
