On February 8th, Cathie Cathie Wood, CEO 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, indicating almost no correlation. Gold tends to rise before Bitcoin, and this situation may occur again."
We disclose our trading activity daily, and you can see that we've been gradually and incrementally buying crypto-related stocks. We don't know how long the downturn will last, nor can we guarantee it's over, but when negative sentiment is this extreme, if our research is correct, we should enter in batches and gradually increase our positions.
