Bitcoin-Gold Ratio Climbs to 18-Year High as Cathie Wood Sees More Upside

Cathie Wood and ARK Invest are pointing to the strengthening Bitcoin-gold ratio as evidence that BTC is gaining ground against gold.

The ratio has climbed to about 18, its strongest level since January, with Bitcoin outperforming gold by a significant margin over the past month. While some may see this as a signal of increasing correlation between the two assets, Wood argues that it's actually a sign of BTC's growing purchasing power relative to gold.

The rising ratio is also reflected in institutional demand for Bitcoin, which has remained strong despite recent volatility. The US spot Bitcoin ETFs have attracted nearly $1 billion in weekly inflows, indicating that large investors are still adding exposure to the asset.

Wood's argument fits with ARK's broader bullish outlook on Bitcoin, which sees a target price of $730,000 by 2030 driven by increasing institutional adoption and BTC's growing role in global portfolios. However, for now, the more immediate signal is that Bitcoin is once again gaining ground against gold.