Wood Sees Bitcoin's 'Miles to Go' in Technological Revolution

Cathie Wood, CEO of Ark Invest, is optimistic about Bitcoin's prospects. She believes that Bitcoin has 'miles to go' due to its potential as a technological revolution and a new global monetary system. According to Wood, this could put many companies in harm's way, generating counterparty risk.

However, she sees the benefits of this shift, saying that it might accrue to the benefit of both Bitcoin and gold. Wood described Bitcoin as both a risk-off and a risk-on asset, citing its low correlation with gold as a positive sign.

The Bitcoin-Gold Ratio has been increasing, which is 'very reassuring' for Ark Invest, according to Wood. She notes that in the past, gold prices have tended to rally ahead of Bitcoin's bull markets. This could be a promising indicator of future growth for Bitcoin.