Cathie Wood isn't flinching. The ARK Invest founder recently went on record to say Bitcoin has entered a bottoming process and that the broader uptrend, however bumpy the ride, remains firmly
Cathie Wood isn't flinching. The ARK Invest founder recently went on record to say Bitcoin has entered a bottoming process and that the broader uptrend, however bumpy the ride, remains firmly intact.
Speaking on ARK Invest's podcast on July 3, Wood delivered one of the clearer reads on Bitcoin's current positioning from anyone managing serious institutional money in the space.
Her conclusion was direct: the worst is likely behind the market, and what follows is a resumption of a trend that has been in place for years.
Related: Michael Saylor predicts Bitcoin's next decade
Wood's conviction isn't rooted in sentiment. It comes from a specific ratio, Bitcoin measured against gold. She noted that while gold has slipped in recent weeks, the Bitcoin-to-gold ratio has held its floor rather than breaking down alongside it.
"It seems to be in a bottoming process," Wood said. "We believe that it has bottomed on this basis and will resume the very volatile but broad uptrend."
The ratio currently sits near levels last seen in mid-2023, a period that preceded a sustained Bitcoin rally.
That parallel is not lost on Wood, who has argued for years that gold tends to move first in these cycles, with Bitcoin following.
The divergence between the two assets over the past month is notable. Bitcoin has gained ground while spot gold has pulled back roughly 4%. If Wood's sequencing thesis holds, a gold recovery ahead would set the stage for Bitcoin's next meaningful move higher.
Wood maintains a $730,000 base case and a $1.25 million bull case prediction for Bitcoin by 2030. In a June 27 post on X, the veteran investor argued that capital outflows from less stable countries will "light another fire" under Bitcoin.
She added that although AI has dominated investment interest, it cannot replace Bitcoin as the "insurance policy" many investors are seeking.
Bitcoin was trading at $61,936 at the time of writing.
Related: Cathie Wood is bullish on Bitcoin despite cutting price target
