Cathie Wood's ARK Invest continues to make significant trades in the crypto space as the firm sold
$3.9 million worth of
Coinbase shares amid market volatility. Despite the sale, the firm still holds
$110 million in holdings. Notably, ARK Invest CEO,
Cathie Wood continues to be positive about
Bitcoin's future, predicting the currency will hit
$1 million by 2030. Among notable transactions, ARK also bought
$2.2 million of Coinbase shares during post-debate crypto slumps and later acquired additional $8.4 million worth of Coinbase shares. Contrastingly, ARK has also been offloading Robinhood shares and switching its investments to Coinbase.
In other moves, ARK invest sold
$31 million in shares of Block (formerly known as Square) while the crypto market gathered momentum and continued to adjust its portfolio, buying Amazon and Coinbase stocks. Amid these changes, ARK's focus on
innovation remains evident, especially with respect to Bitcoin where Wood joined a call for a strategic Bitcoin reserve and gave a thumbs up to Senator Cynthia Lummis' Plan.
Lastly, recent investments imply significant faith in new solutions in the crypto market with
$2.5 million funding led by Tim Draper for crypto startup
Ark Labs, to develop Bitcoin Layer 2 payments network.
ARK Coin News Analytics from Thu, 15 Feb 2024 08:00:00 GMT to Sat, 21 Dec 2024 08:27:47 GMT -
Rating 3
- Innovation 8
- Information 7
- Rumor -2
