Cathie Wood: Bitcoin has a very low correlation with gold; I'm buying crypto stocks in batches.
This article is machine translated
Show original
According to ME News, on February 8th (UTC+8), Cathie Wood, Cathie Wood of ARK Invest, stated, "Bitcoin once fell to around $60,000, almost halved from its October high. Calculating the correlation between Bitcoin and gold returns since 2019, the correlation coefficient is only 0.14, practically zero. Gold often rises before Bitcoin, and this situation may occur again. We disclose our trading activity daily, and you can see we have been gradually buying crypto-related stocks in small increments. We don't know how far the decline will go, nor can we guarantee it's over, but when negative sentiment is so extreme, if our research is correct, we should enter in batches and gradually increase our positions." (Source: ME)
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content
