Cathie Wood Sees Turning Point for Bitcoin Against Gold
ARK Invest CEO Cathie Wood believes that Bitcoin has finally outperformed gold. Since mid-August, BTC has gained over 30%, while gold declined by nearly 5%. According to Wood, this marks a significant shift in the long-term correlation between the two assets.
In an interview published on Friday, Wood stated, 'We do think the turn is in here for Bitcoin.' She described the move in the Bitcoin-to-gold ratio as 'a very nice turn,' with Bitcoin rising and gold falling. This trend has been evident since August 16, when BTC began to surge ahead of gold.
Wood pointed out that ARK's study found a correlation between Bitcoin and gold at approximately 0.1. This reading indicates a low level of correlation, but one that is not entirely absent. However, Wood noted that the correlation has recently turned negative, suggesting that BTC and gold are now moving in opposite directions.
Wood also discussed her views on inflation, stating that she would 'not be surprised to see' gold continue to decline. She tied this prediction to a broader call on inflation, referencing recent data from the Personal Consumption Expenditures (PCE) report, which showed headline inflation at 3.4% year-over-year in August.
Meanwhile, Citi has raised its 12-month Bitcoin target to $113,000, following two previous cuts earlier this year. This new target is still below BTC's record price of over $126,000 in October 2025.