ARK report: Bitcoin's rise is not a speculative frenzy, funds avoid housing and car markets and turn to BTC

According to a recent report by ARK Invest led by Cathie Wood, Bitcoin rose 11.1% in May, reaching a new high of $112000, while the US real estate and automotive markets showed clear signs of fatigue. Housing supply exceeded demand, and car sales plummeted from over 17 million units in April to 15.6 million units in May. ARK stated that the rise of Bitcoin was not accompanied by speculative frenzy, with ETF fund inflows reaching $5.5 billion, three times that of gold ETFs during the same period, indicating that investors may view Bitcoin as a safe haven asset rather than a speculative tool, and engage in rational asset reallocation under economic pressure.