Cathie Wood, founder of Ark Invest, stated on Friday that Bitcoin (CRYPTO: BTC) has bottomed out and is on course to resume its “volatile” uptrend. During Ark Invest’s In The Know podcast, Wood shared her analysis of Bitcoin’s ongoing trajectory, pointing to the Bitcoin-to-gold ratio chart. She noted that the ratio was holding its floor while gold moved lower. “It seems to be in a bottoming process. We believe that it has bottomed on this basis and will resume the very volatile but broad uptrend,” the Ark Invest CEO said.

The ratio currently stands at roughly 15, mirroring the levels observed in mid-2023 when it was advancing after bottoming out. Wood has frequently posited that gold prices tend to rally ahead of Bitcoin’s bull markets. If this thesis is to play out, gold needs to move higher first. Over the last month, however, the two assets have diverged sharply. Bitcoin has gained ground while spot gold has slipped.

Wood maintains her $730,000 base case Bitcoin target for 2030 and said earlier this month that the bull market is “intact” despite a sharp drawdown from its all-time highs. Last week, she positioned Bitcoin as a “wealth insurance policy” that AI-driven growth investments cannot provide. Wood’s conviction was also evident in Ark Invest buying shares of key cryptocurrency-linked stocks in late June, including Coinbase Global Inc (NASDAQ: COIN), Robinhood Markets Inc (NASDAQ: HOOD) and Bullish Inc (NYSE: BLSH).

Cantor Fitzgerald estimated in a recent report that the current bear market could reach its bottom around late October. At the time of writing, BTC was exchanging hands at $63,268.85, up 0.79% in the last 24 hours. Coinbase shares closed 3.92% higher at $165.48 on Thursday.

Ledger co-founder Eric Larchevêque stated that Bitcoin is not a path to quick wealth but a way to protect the 'fruit' of one’s work in a world where bank deposits, gold custody, and fiat savings depend on third parties. In an interview with 'When Shift Happens' on June 25, Larchevêque explained that his conviction in Bitcoin was shaped by early experiences with the traditional financial system, including losing access to funds after a Latvian bank failed and being denied physical access to gold bars held through a Luxembourg bank.

Larchevêque argued that bank balances are ultimately claims on institutions, while Bitcoin held in self-custody is a final asset. He began moving heavily into Bitcoin around 2014, eventually placing almost all of his liquid net worth into the asset. He noted that he does not measure his wealth in euros but in the number of Bitcoins he owns.

Self-Custody and Security Risks

Larchevêque said Ledger was built to help users secure crypto assets, but he added that self-custody requires personal responsibility. He warned investors never to share their 24-word recovery phrase and advised large holders to avoid keeping direct access to their full holdings at home.

He also discussed the kidnapping of Ledger co-founder David Balland, who was tortured while criminals demanded a €10 million Bitcoin ransom from Larchevêque. The incident, he said, showed that physical security has become a major issue for visible crypto holders, especially in France.

Long-Term Investment Strategy

Despite Bitcoin’s volatility, Larchevêque said the only workable strategy is long-term conviction. He advised ordinary investors not to copy his all-in approach but instead to build a disciplined Bitcoin strategy through regular accumulation and only with money they do not need for daily life.

"The only people I know who had success with Bitcoin investment are the ones who forgot about it," he said.