When asked if gold is factored into her forecast, Wood explained that the $300,000 reduction assumes all other things being equal, and gold continues to grow the way it is.
However, since gold has also doubled in value since ARK Invest’s initial Bitcoin forecast, the comparison has become more nuanced. She reiterated that Bitcoin’s investment case remains intact because it is both digital gold and a technological innovation forming the foundation of a global monetary system.
Wood noted that Bitcoin is the “lead in a new asset class” while distinguishing stablecoins as digital cash equivalents. The relationship between gold, stablecoins, and Bitcoin represents what she described as a dynamic interplay of “puts and takes.” Despite trimming her price forecast, Wood stressed that ARK is fundamentally bullish on Bitcoin’s long-term potential.
Even as ARK Invest moderates expectations, Wood highlighted that institutional interest in Bitcoin and blockchain-based payment systems is still at an early stage. She noted that large financial players are only beginning to test the waters, with early experiments in new payment rails and digital asset integration just beginning to take shape.
“We have just started,” she said, adding that there is still “a long way to go.”
At the time of writing, Bitcoin is trading at $102,413, up by 1% in the past 24 hours but down by 7% and 16% in the past seven and 30 days, respectively.
Featured image from Unsplash, chart from TradingView
