Cathie Wood has reignited the cryptocurrency versus gold debate by advising traders to shift from gold into Bitcoin, triggering a sharp response from gold advocate Peter Schiff. Speaking on The Rundown podcast, Wood argued that current economic conditions don't justify gold's price levels, unlike during the Great Depression or 1970s inflation.

Wood suggested Bitcoin offers better long-term value, noting that while stablecoins have taken some transactional roles in emerging markets, Bitcoin remains superior for long-term savings. Her comments drew immediate criticism from Schiff, who called her a "fool" on X and warned followers they could "go broke" following her advice. Schiff maintains that gold is a superior store of value compared to Bitcoin, which he views as driven largely by speculation.

Despite the criticism, Wood reaffirmed ARK Invest's bullish Bitcoin outlook, citing a $1.5 million price target by 2030. The firm's analysis suggests institutional investment could drive this bull case, while digital gold characteristics contribute to their bear and base cases. Wood acknowledged that stablecoins have assumed some roles she initially expected Bitcoin to fill in emerging markets, but maintains this is a temporary trend rather than a permanent shift in Bitcoin's utility.

Quick Fact: ARK Invest's Big Ideas 2025 report cites a $1.5 million Bitcoin price target by 2030.