Bitcoin Takes Lead Over Gold as Cathie Wood Sees Turning Point

Cathie Wood, CEO of ARK Invest, believes that Bitcoin has finally turned against gold. According to her, the 'turn is in' for the apex cryptocurrency, as it has outperformed gold significantly since mid-August.

Bitcoin's price has climbed over 33% since August 16, while gold has declined by more than 4%. This shift in performance has led Wood to describe the move in the Bitcoin-to-gold ratio as 'a very nice turn', with Bitcoin going up and gold going down.

The correlation between Bitcoin and gold, which was previously neutral at 0.1, has recently turned negative, indicating that the two assets are moving in opposite directions. Wood tied this view to a wider call on inflation, pointing out that gold peaked around the time President Donald Trump appointed Kevin Warsh as the Federal Reserve's Chair.

Citi raised its 12-month Bitcoin target to $113,000 earlier this week, which is still below Bitcoin's record of over $126,000 in October 2025. Wood also expressed her expectation that gold will continue to decline, citing the latest Personal Consumption Expenditures (PCE) report, which showed headline inflation at 3.4% year-over-year in August.