Overview
- ARK’s matrix of weekly returns since 2020 shows bitcoin’s correlations: 0.14 to gold, 0.06 to bonds, 0.28 to the S&P 500, versus 0.27 between the S&P 500 and bonds.
- The protocol’s issuance path projects supply growth near 0.82% annually for two years, then about 0.41%, reinforcing structural scarcity versus price‑responsive gold mining.
- Wood notes bitcoin’s price is roughly 360% higher since late 2022, attributing gains to predictable supply intersecting with rising demand.
- She argues 2025’s divergence—gold up about 65% as bitcoin slipped 6%—underscores the diversifier case rather than a one‑for‑one “digital gold” comparison.
- Her macro view describes a U.S. “coiled spring,” with potential tax and deregulation shifts—“Reaganomics on steroids”—that could reset allocator positioning and the dollar.