Bitcoin Price Prediction: ARK Invest CEO Cathie Wood Says Bitcoin Is Already Replacing Gold While Experts Say Bitcoin Minetrix Might 10X On Launch
The Bitcoin price rose a fraction of a percent in the last 24 hours to trade at $42,727 as of 02:39 a.m. EST on trading volume that rose 19.9% to $18 billion. This comes as ARK Invest CEO Cathie Wood says Bitcoin (BTC) is effectively substituting gold as a store of value, especially after the approval of spot Bitcoin exchange-traded funds (ETFs). In a new YouTube update, Wood says that she believes BTC is acting more as a risk-off asset and a flight to quality during times of economic uncertainty. Wood shares a chart of Bitcoin to gold ratio, which appears to show a strong, long-term uptrend. She says it reflects that BTC is now in the process of partially replacing the yellow metal. Wood’s firm was one of 10 ETF issuers that launched a spot Bitcoin ETF on Jan. 11. ARK 21Shares Bitcoin ETF holds over $700 million in Bitcoin. Bitcoin Price Remains Bullish As It Trades Within The Ascending Triangle BTCUSD Chart Analysis. Source: TradingView.com The Bitcoin price has recentl...