Wood: Bitcoin Gains Ground Against Gold as Ratio Improves

Cathie Wood, an experienced investor and founder of ARK Invest, believes that Bitcoin is gaining ground against gold. She based her assertion on a chart in the 'In The Know' podcast, where she noted that while gold has been falling, Bitcoin's price has remained relatively stable.

The ratio between the two assets, which divides Bitcoin's dollar price by gold's dollar price per troy ounce, is an important indicator of their relative performance. According to Wood, this ratio has been improving in favor of Bitcoin, but it's essential to note that a rising ratio does not guarantee a dollar profit for investors.

The relationship between Bitcoin and gold is complex, and their correlation can change over time. Historically, the two assets have shown a low correlation of around 0.1 since 2019, with Bitcoin's price movements being less influenced by gold prices than one might expect.