ARK Invest’s CEO Cathie Wood spoke about the growing trend of investors moving from gold to Bitcoin (CRYPTO: BTC). What Happened: She suggested that this shift, or “substitution,” is likely to persist, especially with easier access to Bitcoin (CRYPTO: BTC) through spot exchange-traded funds (ETFs). In an episode of the “Big Ideas 2024” podcast, speaking with ARK’s chief futurist Brett Winton, Wood said, “Relative to gold, Bitcoin has been rising. There’s now a substitution into Bitcoin and we think that is going to continue now that there is a less friction-filled way to access Bitcoin.” Wood …
