The latest report from ARK Invest, led by Cathie Wood, pointed out that Bitcoin rose 11.1% in May to a new high of $112,000, while the U.S. real estate and auto markets showed significant weakness. Housing supply exceeded demand, and car sales plummeted from more than 17 million in April to 15.6 million in May. ARK said that Bitcoin's rally was not accompanied by a speculative frenzy, with ETF inflows reaching $5.5 billion, three times that of gold-backed ETFs over the same period, suggesting that investors may see Bitcoin as a safe-haven asset rather than a speculative tool, and rationally reallocate assets under economic pressure.
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ARK Report: Bitcoin pump is not a speculative frenzy; funds are shifting from the housing and automotive markets to BTC.
The latest report from ARK Invest, led by Cathie Wood, pointed out that Bitcoin rose 11.1% in May to a new high of $112,000, while the U.S. real estate and auto markets showed significant weakness. Housing supply exceeded demand, and car sales plummeted from more than 17 million in April to 15.6 million in May. ARK said that Bitcoin's rally was not accompanied by a speculative frenzy, with ETF inflows reaching $5.5 billion, three times that of gold-backed ETFs over the same period, suggesting that investors may see Bitcoin as a safe-haven asset rather than a speculative tool, and rationally reallocate assets under economic pressure.