‘Sell Gold, Buy Bitcoin’: Cathie Wood Signals a Macro Rotation
Cathie Wood, CEO of ARK Invest, is making a bold asset-allocation call: trim exposure to gold and rotate into Bitcoin. Her argument isn’t based on short-term price action, but on liquidity dynamics, supply mechanics, and long-term technological adoption trends.
Wood says gold now looks stretched on a liquidity-adjusted basis, particularly when measured against global money supply (M2). Historically, extreme readings in gold-to-liquidity ratios have appeared near major macro turning points, not during sustained growth phases. In her view, gold’s recent strength reflects defensive positioning not future upside.
Bitcoin, on the other hand, is framed as a long-duration innovation asset still early in its adoption curve. Wood emphasizes its fixed and declining issuance rate, arguing that predictable supply contrasts sharply with gold’s variable mining output. Over time, she believes scarcity combined with expanding global access makes Bitcoin structurally advantaged as a digital savings layer. 📈
She also addressed concerns that Bitcoin has “lost momentum” while gold outperformed. According to Wood, the two assets historically show low correlation, and past cycles have seen gold lead before Bitcoin accelerates later. In that sense, she views the current divergence as a setup rather than a warning.
On the macro front, Wood ties Bitcoin’s long-term outlook to broader technological convergence AI, robotics, energy storage, and blockchain which she believes will drive exponential capital formation. Within that framework, Bitcoin represents a monetary network positioned to benefit from global digitization and intergenerational wealth transfer.
While acknowledging recent volatility and deleveraging pressure in crypto markets, Wood suggests forced selling is fading. Her core thesis remains intact: gold may be extended, but Bitcoin’s structural supply dynamics and adoption runway still point higher over the long term.