“People Have NO IDEA What’s Coming…” | Cathie Wood Bitcoin Prediction (2024)

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ARK Invest CEO and CIO Cathie Wood is one of the biggest crypto bulls around, especially when it comes to Bitcoin. She’s super optimistic about its future, saying it could hit a whopping $650,000 or more, way beyond its current value of about $40,000.

Recently, Cathie compared Bitcoin to digital gold, calling it a store of value and a safe bet during rough financial times. She pointed out how Bitcoin jumped by 40% during the Regional Bank crisis last March. Plus, she explains how the introduction of Bitcoin ETFs affected its price, noticing some ups and downs due to people buying and selling before and after the ETFs hit the market.

However, make sure to stay until the end of the video where Cathie Wood reveals her economic outlook for 2024 that you don’t want to miss.

About Cathie Wood:

Catherine Duddy Wood or better known as Cathie Wood is the founder, CEO, and chief investment officer of Ark Invest. Also named as the best stock picker of 2020 by Bloomberg News, Cathie Wood manages the world’s largest actively traded ETF that focuses on disruptive technologies.

Catherine Duddy Wood or better known as Cathie Wood is the founder, CEO, and chief investment officer of Ark Invest. Also named as the best stock picker of 2020 by Bloomberg News, Cathie Wood manages the world’s largest actively traded ETF that focuses on disruptive technologies.

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“People Have NO IDEA What’s Coming…” | Cathie Wood Bitcoin Prediction (2024)

I’m going to show the Bitcoin to gold ratio um um many people call Bitcoin digital gold uh we would put it in that category a store of value uh a risk off asset uh and last year during the Regional Bank crisis in March uh Bitcoin

Uh shot up 40% as the K the Regional Bank index was imploding and here again the Regional Bank index is acting up uh and after uh a little bit of a correction uh after 11 ETFs were introduced um we are seeing Bitcoin catch a bid again uh so this idea that

It’s a flight to Quality or a flight to safety uh is reasserting itself here uh the reason we believe Bitcoin went down after the ETF um after the ETFs were introduced is because there was a lot of anticipatory buying before uh before Bitcoin or the ETFs came out uh there

Was a bit of the sell on the news these are the trading types who uh just are are very opportunistic in that way um as you know or if you’ve been listening to in the no uh 15 million of the 195 million Bitcoin outstanding are in what we call strong hands they’re they

Haven’t moved their Bitcoin in more than 155 days uh so um and and this chart uh just shows you that even relative to Gold uh Bitcoin has been rising it is there’s now a substitution into into Bitcoin and uh we think that is going to continue now that

There is a much easier way less FR friction filled way to access Bitcoin arines CEO Kathy Wood is one of the biggest crypto Bulls around especially when it comes to Bitcoin in her latest update to investors she broke down why she believes Bitcoin will Eclipse a market cap of gold heading to over

$650,000 per coin Kathy compared Bitcoin to digital gold calling it a store of value and a safe bet during rough Financial Times she pointed out that last March Bitcoin acted exactly how would expect a risk-off asset like gold would act its price jumped by 40% during the regional banking crisis Kathy also

Broke down why the newly launched Bitcoin ETFs will be hugely bullish for the Bitcoin price over time make sure to stick around to the end of the video where Kathy reveals her economic outlook for 2024 that you won’t want to miss also guys only a small percentage of my

Viewers actually subscribed if you enjoy staying up to date with Finance content consider subscribing or liking the video it’s free and you can always change your mind now here’s Kathy Wood with why she believes that Bitcoin is going to over $650,000 per coin the headlines uh were very strong uh non-farm payroll

Employment came out at 353,000 um and uh that was nearly double what was expected uh 185,000 and even more important perhaps if you believe these numbers uh is that there was an upward revision to the previous month 117,000 uh upward revision to 333,000 uh that’s pretty astonishing so the the

Two months together December and January which are very seasonal months of course uh when you combine them uh the employment was up 686,000 that’s a booming economy or is is it well household employment so non-farm payroll uh surveys corporations companies and household employment surveys households and tends to capture more small

Businesses uh so household employment was down 31,000 in January and the previous month December it was down 683 th000 so the combination of those two months down 74,000 so which is right honestly it’s a this is a schizophrenic report um hedi put out a report today on I think they

Called it a ridiculous uh employment report and they noted that full-time employment over the last year the past year has gone nowhere in fact it’s down a bit part-time employment is up 870,000 uh this is not this is not a strong sign out there unless everyone’s going into

The gig economy uh Uber Airbnb and so forth now the other controversial uh statistic that that came out with this report was average hourly earnings it was up 0.6% so 5% at an annual rate uh it had been running 0.3% or roughly 3 and a half% at an

Annual rate uh on a year-over-year basis it now is up up 4.5% previous month it had been up on a year-over-year basis by 4.1% so the fed’s not going to like that that unless they focus on the productivity numbers that have come out recently which are extremely

Strong and would suggest to us that many of the breakthroughs in technology especially AI are starting to impact the economy on a year-over-year basis uh the nonfarm productivity is up 2.7% so 4.5 uh minus 2.7 is uh roughly I guess one let me do the arithmetic there uh

1.8% so that’s below the fed’s 2% Target another interesting statistic in this report which may have been weather related um was that the average work week dropped 610 of a of a percent the only time that uh steep a decline happens is either in bad weather or a

Recession and uh so we may have both in this rolling recession that we’ve been talking about um I’m taking this one a little more seriously because in December meaning seriously than just weather in December it also was down 0.3% so that’s two consecutive months um and we’re also very focused on

Real world data that’s been coming out uh you see that UPS is laying off 12,000 people you see a lot of layoff announcements uh and you see and one of the reasons you’re seeing these announcements is revenue growth for many companies has gone negative in fact in

What I would call the traditional world or the old world the non-digital world um we’re seeing negative Revenue growth 3M minus 4.5% year-over-year that’s volume and price down that’s the equivalent of nominal GDP um UPS down 7.8% on a year-over-year basis and these companies touch the world and maybe

That’s what’s going on right now China seems to be uh in a downward spiral certainly its stock market is is looking that way and the statistics are are disappointing perhaps the debt load associated with 20 years of buy the dip property um transactions in China um reached an untenable Point uh many many

Statistics out of of China are are negative and Europe by some measures is in recession so maybe these multinationals are suffering more because of what’s going on in the rest of the world um but I do think we are not isolated from the rest of the world

So again lots of confusion and anyone who’s been listening to in the know for a while um knows that uh I’ve been saying it’s going to be very confusing very confusing and uh this is just one indication just one more thing before we uh before I introduce you or reintroduce

You to Brett um when I first started in the business um in the late 70s I was in college um I Heard portfolio managers back then talking about the worst mistake they had made in their lives their professional lives um in the early 70s after after we went off the gold

Exchange standard and all hell broke loose prices started going crazy we had the Oil Embargo quadrupling of oil prices most economic indicators were in nominal terms they didn’t break out real from Price or real from inflation and uh because of that they looked at earnings exploding and they could not understand

Why the market was going down and they kept buying the dip buying the dip it was a big mistake because what was happening back then was uh inflation was the only reason earnings were going up and the market doesn’t pay for uh earnings caused by inflation and so that’s when we started separating

Inflation from real growth and we’ve been there ever since today we might be on the opposite side of that problem now most uh portfolio managers as they’re gauging the health of the economy they look at real GDP and and inflation is just a separate uh metric that they know

Uh the market doesn’t pay for so you know um well that’s okay until you run into negative money growth caused by I mean negative Revenue growth caused by uh falling prices companies losing pricing power and uh unit volumes not being that strong so um again we’re in

This uh Topsy Turvy world and we think we’re there because of a a a lot of be because of what is going on with disruptive innovation which is highly deflationary H and and is going to create a lot of creative destruction which will also be deflationary one is good deflation deflation associated with

Innovation and the other is bad deflation so um we do think uh that the price indicators the broad-based indicator like the CPI and the PPI will enter NE negative territory this year we’ve been talking about the bigger risk being deflation for quite some time and uh the companies are now starting to

Report uh some of them both inflation and and prices coming down and weakness in underlying economic activity uh and we always say Innovation solves problems and we think Innovation is going to solve uh one of the biggest problems that companies are going to have in the next few years and we think

That’s deflation uh deflation is going to hit margins and could hit them hard uh and we think Innovation um will uh will help corporations who embrace it aggressively especially in this new AI age so this Kathy Wood with her expert analysis on the potential of crypto especially Bitcoin through her

Comparison of Bitcoin point to digital gold and her observations on its performance during the financial crisis Kathy brings a fresh perspective to the table she’s not afraid to dive into the complexities of the market even when things are a bit unpredictable before we go a quick reminder for those who are

Keen on staying updated in the fast-paced world of crypto and Bitcoin consider subscribing to our daily 5minute crypto newsletter it’s a concise resource for the latest Expo predictions breaking news and top onchain analysis trusted by over 50,000 subscribers for insightful crypto investment information click the first link in the description

To join our community and elevate your crypto investment knowledge today anyway guys hope you all enjoyed today’s video and that provided you with some value I’ll see you all in the next one and as always all the best