Cathie Wood: Gold Surges Bitcoin Weakened – Different Roles

Cathie Wood: Gold Is Winning Now, Bitcoin Is ‘Playing the Long Game’

  • Cathie Wood says the split between Gold and Bitcoin reflects different roles and timing, not direct competition.
  • Gold rose about 65% in 2025, while Bitcoin fell roughly 6% over the same period.
  • Since the end of the U.S. equity bear market in late 2022, gold has climbed about 166%, while Bitcoin has gained roughly 360%.
  • Wood notes gold often rallies during inflation fears and that current demand may outpace miner supply; Bitcoin has fixed supply dynamics coded into its protocol.
  • Bitcoin shows very low correlation with stocks, bonds, gold, and commodities since 2020, making it a potential portfolio diversifier despite short-term weakness.

Cathie Wood, chief executive of Ark Invest, told investors that the recent divergence between gold and Bitcoin reflects different market roles and timing rather than direct competition. She noted the performance gap through 2025 and framed it as a short-term supply-and-demand and hedging dynamic.

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Wood highlighted that gold rose about 65% in 2025 while Bitcoin fell roughly 6% in the same period. She also pointed out that since the end of the U.S. equity bear market in late 2022, gold has jumped about 166%, and Bitcoin has increased roughly 360% over that span.

She said gold typically rallies sharply when inflation fears rise, and that this cycle may also reflect global wealth increasing faster than the available gold supply, pushing demand beyond what miners can easily produce. By contrast, Bitcoin cannot expand supply when prices rise; its inflation rate is fixed in code and declines over time.

Wood added that this built-in scarcity and Bitcoin’s low correlation with other asset classes since 2020 make it useful as a long-term diversifier for institutional portfolios. She described Bitcoin as, in her words, “playing the long game”.

Gold’s recent gains likely reflect near-term hedging demand amid geopolitical uncertainty and looming tariff hearings, while interest in Bitcoin centers on store-of-value and return-enhancement roles. Bitcoin traded around $95,300 after falling about 1.4% in the prior 24 hours, and retail sentiment on Stocktwits remained described as “bullish” even as chatter eased to “normal” from “high”.

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