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ARK Invest chief executive Cathie Wood said Bitcoin’s flat price is being misread as weakness when it actually reflects a major structural repricing.
In ARK’s 2026 outlook released on January 15, Wood described the US economy as a “coiled spring” shaped by a prolonged rolling recession.
She said weak housing sales and contracting manufacturing are setting the stage for a sharp rebound driven by deregulation and lower taxes.
Wood identified blockchain technology, alongside artificial intelligence and robotics, as key platforms poised to fuel the next productivity boom.
She argued that while the economy represents the coiled spring, Bitcoin is positioned to absorb a disproportionate share of future wealth creation.
Wood contrasted Bitcoin’s fixed supply with gold, which saw strong price gains encourage higher mining output.
“Gold and bitcoin miners are likely to respond to these price signals differently: gold miners, by boosting production of gold, something not possible with bitcoin,”
Cathie Wood said.
She noted that Bitcoin fell about 6% in 2025 while gold rallied, creating a divergence that overlooks Bitcoin’s tightening issuance schedule.