ARK Invest: Bitcoin surges as housing, auto markets struggle

Cathie Wood’s ARK Invest reports Bitcoin’s 11.1% surge in May to $112,000 coincides with signs of stress in the U.S. housing and auto markets. Despite the rally, ARK sees no signs of speculative excess. Spot Bitcoin ETFs attracted $5.5 billion in May, triple the inflows seen in gold ETFs. As real-world assets face strain, ARK suggests Bitcoin may be a calculated hedge, not just a speculative bet, CoinDesk reported.