{"id":37699,"date":"2024-02-06T12:19:16","date_gmt":"2024-02-06T12:19:16","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2024\/02\/06\/cathie-wood-says-bitcoin-to-replace-gold-as-safe-haven-amid-us-banking-crisis\/"},"modified":"2024-02-06T12:19:16","modified_gmt":"2024-02-06T12:19:16","slug":"cathie-wood-says-bitcoin-to-replace-gold-as-safe-haven-amid-us-banking-crisis","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2024\/02\/06\/cathie-wood-says-bitcoin-to-replace-gold-as-safe-haven-amid-us-banking-crisis\/","title":{"rendered":"Cathie Wood Says Bitcoin To Replace Gold As Safe-Haven Amid US Banking Crisis"},"content":{"rendered":"

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The Bitcoin ETF launch attracted sturdy inflows from retail and institutional gamers over the past month. Ark Invest\u2019s Cathie Wood believes that Bitcoin will change Gold as a safe-haven asset before anticipated.<\/p>\n

Bitcoin Offers Flight to Quality Amid Economic Uncertainty<\/h2>\n

In a latest YouTube replace, Cathie Wood of ArkInvest delves into her perspective on Bitcoin\u2019s present conduct, emphasizing its position as a risk-off asset and a perceived \u201cflight to quality\u201d amid financial uncertainties.<\/p>\n

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Wood notes a sample noticed throughout final yr\u2019s regional financial institution disaster in March when the BTC worth skilled a notable 40% surge whereas the regional financial institution index, represented by KRE, was dealing with challenges. Drawing parallels to the current, Wood factors out that Bitcoin is as soon as once more gaining traction because the regional financial institution index reveals indicators of volatility.<\/p>\n

She means that the notion of Bitcoin appearing as a \u201cflight to quality\u201d is turning into extra evident. On the opposite hand, world markets like China are additionally dealing with sturdy financial uncertainties with extra buyers now searching for exposure to Bitcoin<\/a>.<\/p>\n

Exploring the latest dip in BTC worth after the introduction of 11 ETFs<\/a>, Wood attributes the decline to anticipatory shopping for main as much as the ETFs\u2019 launch and a subsequent \u201csell-on-the-news\u201d phenomenon, usually pushed by opportunistic buying and selling methods.<\/p>\n

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Wood additional helps her perspective by sharing a chart depicting Bitcoin\u2019s worth compared to gold, showcasing a sturdy, long-term uptrend. This pattern, in accordance with Wood, displays Bitcoin\u2019s ongoing course of of probably changing gold to some extent within the funding panorama.<\/p>\n

As Bitcoin continues to navigate market dynamics and financial uncertainties, Wood\u2019s insights present worthwhile views on the cryptocurrency\u2019s evolving position within the broader monetary panorama. Stay tuned for additional developments and analyses from ArkInvest. Wood said<\/a>:<\/p>\n

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\u201cThis chart just shows you that even relative to gold, Bitcoin has been rising. There\u2019s now a substitution into Bitcoin and we think that is going to continue now that there is a much easier way, less friction-filled way to access Bitcoin.\u201d<\/p>\n<\/blockquote>\n

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