Against consensus thinking these days, bitcoin, ether, Solana, and perhaps hyperliquid could be good diversifiers. Since early 2020, the correlation between the bitcoin price and the gold price has been very low, 0.14. Gold led bitcoin in the last two major bitcoin bull markets.Keenan 🛡️ (@KeenanRIVALS):@CathieDWood Agreed, however, I do think the point of "where else is the money going to go" is a valid one.Most American's have no idea where to put their capital right now. ...

In ARK’s non-consensus view, the dollar is poised to turn and move up dramatically, as it did in the early eighties because, based on this administration’s economic policies, the return on invested capital in the US is likely to increase relative to that in the rest of the world. ...

Based on many of the replies here, an underlying assumption is that the US dollar’s role as the world’s reserve currency is diminishing, in line with US exceptionalism, the same sentiment before Reaganomics. This administration’s economic policies are Reaganomics on steroids.Cathie Wood (@CathieDWood):Odds are high that the gold price is heading for a fall. Intraday today, the market cap of gold as a percent of the US money supply (M2) hit an all-time high: higher than its peak in 1980 when inflation and in ...

RT Lorenzo Valente (@LorenzoARK)Gold’s market cap as a % of US M2 just hit ~170%+.This is an all-time high, matching the Great Depression (1934) and above the 1980 inflation peak.Historically, extremes in this ratio show up around macro stress/dollar regime shifts and often mark turning points (1980 preceded a 60%+ gold drawdown).This feels like a pivot moment again: there’s no real consensus, and that’s exactly why there may be a lot of alpha for whoever’s right from here. ...

Also important to note is that the correlation between the bitcoin and gold prices has been 0.14 since early 2020, and that the gold price led the last two significant bull moves in the bitcoin price in the last two major cycles.Lorenzo Valente (@LorenzoARK):Gold’s market cap as a % of US M2 just hit ~170%+.This is an all-time high, matching the Great Depression (1934) and above the 1980 inflation peak.Historically, extremes in this ratio show up around macro stress/dollar regime shifts and often mark turni ...

RT Elon Musk (@elonmusk)Not AIhttps://t.co/sA5WmXrW2p ...

In @ARKInvest’s view, US investments should be significant beneficiaries, thanks to dramatic deregulation and the lowest “effective” corporate tax rate in the developed world, both of which will increase the ROIC in the US relative to that elsewhere in the world.Keenan 🛡️ (@KeenanRIVALS):@CathieDWood Agreed, however, I do think the point of "where else is the money going to go" is a valid one.Most American's have no idea where to put their capital right now. ...

Inflating the denominator would put downward pressure on this ratio.Jade Kotonono 異ノ・ジェイド (@devkotonono):@CathieDWood Yes, and everyone's conveniently forgetting that M2 has been artificially inflated to levels never seen before. Comparing percentages to a manipulated denominator is, charitably, misleading. The real question is, where ELSE is the money going to go? Back to bonds? LOL. ...

While parabolic moves often take asset prices higher than most investors would think possible, the out-of-this-world spikes tend to occur at the end of a cycle. In our view, the bubble today is not in AI, but in gold. An upturn in the dollar could pop that bubble, a la 1980 to 2000 when the gold price dropped more than 60%. ...

The US economy today looks nothing like the double-digit inflation-prone 1970s or the deflationary bust of the 1930s. True, foreign central banks have been diversifying away from the dollar for years; yet, the 10-year Treasury bond yield peaked at 5% in late 2023 and is now 4.2%. ...