Cathie Wood Says Bitcoin Is ‘Digital Gold’ as Deflation Hedge

Cathie Wood says she would unambiguously wager on Bitcoin — rather than gold or cash — to safeguard against the possibility of deflation in the coming decade.

The head of ARK Investment Management reiterated her view that she expects an era of falling prices, backed by new technologies including artificial intelligence, electric vehicles, robotics, genomic sequencing and blockchain — an opinion she has held since 2021 even as markets have focused on a new era of heightened inflation risks.

In response to a question on Bloomberg’s Merryn Talks Money podcast about which of the three asset classes she would choose to hold for 10 years, Wood said: “Bitcoin, hands down. Bitcoin is a hedge against both inflation and deflation because there’s no counterparty risk, and institutions are barely involved.” It’s “digital gold,” she said.