BULLISH 📈 : Cathie Wood shifts from gold to Bitcoin for growth potential

Key Insights:

ARK Invest CEO Cathie Wood suggests shifting investments from gold to Bitcoin, citing Bitcoin's favorable supply dynamics and long-term adoption potential.
Wood notes that Bitcoin and gold have no correlation, with Bitcoin historically catching up to gold in past market cycles.
She highlights a historical high of gold versus broad money (M2), suggesting gold may face a decline similar to past macroeconomic extremes.
The stablecoin boom is seen as affecting Bitcoin's transactional role but not its savings appeal. Wood maintains that Bitcoin will remain a key savings asset with a projected price target of $1.5 million by 2030.
Bitcoin's supply growth is expected to decrease from 0.8% per year to 0.4%, contrasting with gold's average supply growth of 1% annually.
A recent "flash crash" on October 10, linked to a software glitch at Binance, caused significant margin calls, impacting Bitcoin's price momentum.
Bitcoin's liquidity makes it susceptible to forced selling during broader market deleveraging, though this overhang is now diminishing.
At the time of reporting, Bitcoin traded at $78,377.

Bitcoin price