Ark Invest CEO Cathie Wood weighed in on Bitcoin’s (CRYPTO: BTC) recent weakness, arguing that the decline reflects algorithmic selling rather than deteriorating fundamentals.

Bitcoin vs. Gold: A “Risk-Off” Disconnect

In a recent interview, Wood pointed to Bitcoin’s underperformance relative to gold, describing it as a byproduct of systematic, algorithm-driven trading models that classify crypto as a high-beta risk asset instead of a store of value.

She compared the current macro backdrop to 1996, just before the internet economy entered a parabolic expansion phase.

Wood also suggested that gold appears “over its skis” relative to global M2 money supply, implying it may be stretched…

Read more on Benzinga