Bitcoin Ratio Hits Eight-Month High as Cathie Wood Sees More Upside

Cathie Wood says Bitcoin (BTC) still has miles to go after reaching an 18.17 ratio against gold, its highest reading in eight months.

The ratio divides Bitcoin's dollar price per coin by gold's price per ounce and measures the relative strength of each asset.

Over the past month, Bitcoin gained about 22% while spot gold rose just 2%, with both assets rallying together on debasement fears.

ARK Invest's September commentary described the recent move as 'very reassuring' for Bitcoin, which Wood has framed 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.