Gold vs. Bitcoin: Cathie Wood's Aggressive Rebalancing Suggestion at the Beginning of 2026.
Gold's 'Irrational' Pricing: In January 2026, Cathie Wood pointed out in a podcast that the ratio of gold prices to M2 money supply has broken through a 125-year extreme, even surpassing the Great Depression in 1930 and the hyperinflation period in the 1970s.
Logical Paradox: Historically, gold premiums often correspond to the collapse of monetary systems, but the macro background in 2026 is: steady GDP growth, AI-driven productivity explosion, and ample liquidity.
Conclusion: Gold is currently priced for a 'non-existent apocalypse', representing an irrational boom. Once the market realizes economic resilience, gold faces a sharp correction risk.
Bitcoin's 'Mathematical Advantage': Compared to gold miners who can stabilize gold prices by increasing production, Bitcoin's supply is rigidly locked by mathematics.
Scarcity Quantification: ARK data shows that Bitcoin's annual supply growth rate in 2026 is about 0.82%, while gold's is about 1.8%.
Allocation Strategy: She suggests that aggressive investors should shift their positions from gold to Bitcoin, believing the latter is in a 'spiral spring' state, ready to explode at any time in 2026.
2030 Target Price Adjustment: Although she previously made slight adjustments to her target at the end of 2025 due to the rise of stablecoins, in the latest 'Big Ideas 2026' report, she reaffirmed her optimistic expectation of $1.5 million.
Core Support: Institutional allocation ratio reaches 6.5%, corporate treasury asset diversification, and Bitcoin as the only outlet in emerging markets like Latin America to 'counter local currency depreciation'.