Bitcoin Price-to-Gold Ratio Hits Eight-Month High as Cathie Wood Sees 'Miles to Go'

Cathie Wood believes that Bitcoin has miles to go after its price-to-gold ratio reached an eight-month high of 18.17, according to ARK Invest's September commentary.

The ratio measures Bitcoin's dollar price per coin against gold's price per ounce, and it climbed to its highest level since January. Over the past month, Bitcoin gained about 22% while spot gold rose just 2%.

Wood describes Bitcoin as three overlapping revolutions: a technology platform, a monetary system with no issuer, and the first member of an asset class that did not exist before 2009. She calls the recent move 'very reassuring.'