Bitcoin vs gold: Why Cathie Wood feels cryptocurrency's 'turn is in' against the precious metal

What happened: ARK Invest CEO Cathie Wood said the move in the Bitcoin-to-gold ratio is "a very nice turn," noting Bitcoin has outpaced gold since August. Key numbers: Bitcoin around $86,000. Wood bought $100,000 of Bitcoin at about $250 per coin, a holding now worth over $34.4 million, a 34,300% return. Bitcoin was $9,850 in May 2018. Why it matters: Wood frames Bitcoin's store of value characteristics against gold as its relative performance improves. The article also recalls Warren Buffett calling Bitcoin "probably rat poison squared" in 2018.

ARK Invest CEO Cathie Wood said the move in the Bitcoin-to-gold ratio is "a very nice turn," noting Bitcoin has outpaced gold since August.

Wood frames Bitcoin's store of value characteristics against gold as its relative performance improves. The article also recalls Warren Buffett calling Bitcoin "probably rat poison squared" in 2018.