Cathie Wood, known as "Wooden Sister," stated in her latest podcast that Bitcoin is not "digital gold" in the traditional sense, and thus its short-term behavior does not align with that of gold. The correlation coefficient between Bitcoin and gold returns from 2019 to the present is only 0.14. This precisely highlights its value as a diversification asset: low-correlation assets can enhance the risk-adjusted returns of an overall investment portfolio. She pointed out that the key to successful diversification lies in incorporating new assets with low correlation, and Bitcoin meets this criterion.
Additionally, Cathie Wood defined Bitcoin as an asset embodying "three revolutions in one":
a global digital, private monetary system;
an additional layer of internet infrastructure supporting native currencies and agentic commerce;
an entirely new asset class (with Bitcoin representing the most secure and extensive network among cryptocurrencies).
She noted that Bitcoin is in the early stages of its innovation S-curve, exhibiting significant volatility and frequent pullbacks like all disruptive technologies in history. However, she emphasized that this is a normal part of its growth trajectory rather than a sign of its demise.
