Cathie Wood's February Prediction to Sell Gold for Bitcoin Has Not Paid Off So Far
In early 2026, Cathie Wood of ARK Invest advised investors to sell gold and buy Bitcoin, citing historical patterns in the price-to-M2 money supply ratio. At that time, Bitcoin was trading at around $73,000 while gold hovered near $2,800 per ounce. However, over the following five months, both assets moved against her prediction: Bitcoin fell to about $64,000 (-12%), and gold surged past $3,500 before retreating slightly to around $3,300 (+18%). Despite this short-term setback for Wood's call, she maintains a long-term bullish stance on Bitcoin. Her price targets remain unchanged at $1.5 million by 2030 and as high as $3.8 million in the bull case. The six-month performance suggests her strategy has not yet worked out, but the ultimate verdict will depend on how events unfold over the next four years. The broader context of Wood's argument is tied to ARK’s “great acceleration” thesis involving AI and blockchain convergence. While gold currently leads this round, Bitcoin still holds potential for a dramatic turnaround in line with her long-term vision.
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Topics: ARK Invest Bitcoin Cathie Wood commodities gold