Cathie Wood: Bitcoin has extremely low correlation with gold, is gradually buying into crypto concept stocks
BlockBeats News, on February 8th, ARK Invest CEO Cathie Wood, also known as "Wood Mom," stated, "Bitcoin once fell to around $60,000, almost halving from its October peak. By calculating the return correlation between Bitcoin and gold since 2019, the correlation coefficient between the two is only 0.14, almost no correlation. Gold tends to rise before Bitcoin, and this situation may happen again.
We disclose our trading activity every day, and you can see that we have been gradually buying small amounts of crypto-related stocks. We do not know how far the decline will continue or if it has already ended, but when the negative sentiment is so extreme, if our research judgment is correct, we should enter in batches and gradually increase our position."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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