Cathie Wood

That's like emerging market kind of devaluation, right?

Back in 1934, January 31st, 1934, the government confiscated private gold, didn't allow any more private ownership of gold.

and money supply collapsed.

Now we're not in anything like either of those two worlds and yet gold is where it is.

I think if I were a betting person and I can't give advice necessarily, but I would make a shift from gold into Bitcoin because I do think

The knocks on Bitcoin in the last year have been stablecoins are taking some of the role that Bitcoin was going to play in emerging markets.

That's true.

But that's not forever.

That's just for the equivalent of a checking account.

When they want real savings, they're going to buy Bitcoin, we believe.

especially if it's a $1.5 million price target in 2030.

That's our bull case, is right.

And this idea, digital gold, it is better than gold, actually.

You know why?

Because the supply... Well, that, yes, that's critical.

But the supply, in terms of monetary policy, the supply growth of Bitcoin is 0.8% per year, and it'll drop to 0.4% in another two years.

I'll bet you...

a lot that gold supplies are going to be up much more than that.

Their average over time is 1%.

So I think with intergenerational wealth transfer that Bitcoin is going to take off here.