Bitcoin Surpasses Gold in Value, Sets Stage for Further Growth

Cathie Wood, CEO of ARK Invest, sees Bitcoin gaining ground against gold as a positive sign for the cryptocurrency's future. In ARK's September market commentary, she described Bitcoin's improving performance relative to gold as 'very reassuring' and said BTC has 'miles to go' as a monetary system and emerging asset class.

The Bitcoin-to-gold ratio recently reached about 18, its strongest level since January. This means that one Bitcoin can buy more gold than it could earlier this year. Over the past month, Bitcoin gained roughly 22%, while spot gold rose only about 2%.

This rising ratio is significant because it shows Bitcoin's growing purchasing power relative to gold. Wood's argument comes even as Bitcoin remains below its recent highs of near $82,000. The cryptocurrency currently trades near $78,000 after briefly moving above that level last week.

Institutional demand has remained supportive, with U.S. spot Bitcoin ETFs recently attracting nearly $1 billion in weekly inflows. This suggests that large investors are still adding exposure to Bitcoin despite volatility.