Cathie Wood explains why Bitcoin is better than gold

Source: PortaldoBitcoin Original Title: Cathie Wood explains why Bitcoin is better than gold Original Link: https://portaldobitcoin.uol.com.br/cathie-wood-explica-por-que-o-bitcoin-e-melhor-que-o-ouro/ The mathematically limited supply of Bitcoin makes it a scarce asset superior to gold in an era of increasing institutional demand, according to Cathie Wood, founder and CEO of Ark Invest.

In her report “Perspectives for 2026,” Wood analyzes the recent divergence between the two assets.

Gold vs. Bitcoin

While gold appreciated 65% in 2025, Bitcoin fell 6%. Wood attributes the 166% rise in gold since October 2022 not to inflation fears but to “global wealth creation” that surpasses the modest annual growth of the metal’s supply, approximately 1.8%.

“Incremental demand for gold may be exceeding its supply growth,” she wrote. However, Bitcoin presents a fundamentally different supply dynamic.

“Gold miners, by increasing production, can do something impossible with Bitcoin,” notes Wood. “Bitcoin is mathematically programmed to increase about 0.82% annually over the next two years, at which point its growth will slow to around 0.41% per year.”

This inelastic supply programming means that any sudden increase in demand — such as continuous flows into spot ETFs — would have a more potent effect on Bitcoin’s price. “If demand for Bitcoin continues to grow, the benchmark cryptocurrency could benefit more than gold due to its mathematical nature,” the report suggests.

Matthew Hougan, CIO of Bitwise, recently corroborated this scarcity thesis, suggesting that sustained institutional demand exceeding supply could trigger a “parabolic explosion” for Bitcoin.

“Bitcoin’s performance in 2025 seems weak in isolation, but the context matters,” said Georgii Verbitskii, founder of TYMIO. “In 2024, Bitcoin rose sharply… a period of consolidation in the following year is not only normal but justified.”

Verbitskii agreed with Wood’s core structural argument, noting that “when capital migrates to tangible assets during a global currency revaluation, Bitcoin belongs to the same category as gold.”

However, he highlighted a crucial divergence: gold miners can increase production when prices rise, but Bitcoin’s supply is fixed. “This asymmetry means that when demand returns, Bitcoin’s price reaction is structurally more explosive,” Verbitskii said.

Looking ahead

Wood’s analysis also places the current gold rally in a concerning historical context.

The ratio between gold market capitalization and M2 money supply reached a level last seen in the early 1930s and 1980s — periods she describes as “extremes.” Historically, sustained declines from these peaks coincided with strong stock market returns.

For resource allocators, Wood highlights one final and crucial advantage: diversification.

The correlation between Bitcoin and gold is lower than the correlation between the S&P 500 and bonds, she observed, concluding that Bitcoin “should be a good diversification source for asset allocators seeking higher returns per unit of risk in the coming years.”

“Looking to 2026, I don’t see this as a matter of buy or sell, but rather of hold,” said Verbitskii. “Gold offers stability, Bitcoin offers asymmetric upside potential. Historically, Bitcoin has grown faster than gold, and I expect this pattern to continue.”