ARK Invest's Cathie Wood expects regulatory clarity for Bitcoin and other digital assets under Trump's administration, potentially adding them to the Treasury's Strategic Reserve. Ark sees a bullish Bitcoin trajectory, with Wood predicting a <$1.5 million Bitcoin price> by 2030. In addition, they are investing heavily in Coinbase, a leading crypto exchange and a key player in ARK Invest's top stock picks. This suggests a broader institutional acceptance and investment in digital assets. However, ARK recently sold a significant amount of Coinbase shares amid a downturn in the crypto market, possibly indicating a shift in their investment strategy.
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Ark Labs, related to cryptocurrency ARK Coin, also received investment from Tim Draper, validating their work on simplifying Bitcoin payments. They have concrete plans to scale Bitcoin practically, showing potential for both ARK Coin and the larger crypto ecosystem.
\nDespite ARK's confidence in digital assets, they have offloaded significant shares of their Bitcoin ETFs. This trend of large outflows from Bitcoin ETFs is seen across other institutions as well. This could suggest a bearish view on Bitcoin in the near term. However, ARK continues to believe in the transformative role of cryptocurrencies and their underlying blockchain technology.
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