ARK Invest, led by CEO
Cathie Wood, has seen a series of ups and downs in recent years, with its investment leads making notable portfolio adjustments. ARK's previous Digital Assets lead,
Yassine Elmandjra, chose to leave his position. ARK struggled in 2024 due to multiple hits and misses, which included major adjustments such as offloading
Palantir and Bitcoin ETF holdings and ramping up its purchase of
Coinbase shares despite market volatility and insider sales. Additionally, ARK sold $3.9 million worth of Coinbase shares following Powell's hawkish speech and despite a strong 80% rally in Coinbase. The firm has also quit hoarding Bitcoin ETF shares while Bitcoin showed a positive start in 2025.ARK's CEO, Cathie Wood, is bullish on Bitcoin forecasting a top figure of $1 million by decade’s end. Wood's ARK sold more Coinbase stocks amid Bitcoin's plunge and offloaded more of its Bitcoin ETFs. They did, however, purchase additional Coinbase shares, spending about $2.2 million.In light of its relationship with Bitcoin, ARK was involved in the surge of Bitcoin ETFs, led by firms like Fidelity. After observing the Bitcoin market entering 2025, Wood then bought $17.8M of COIN and $11.2m of HOOD as the market slumped.
ARK Labs has been working on scaling Bitcoin practically, while at the same time, former ARK's crypto lead revealed the root cause behind Bitcoin's collapse. Moreover, Tim Draper, a significant figure in the venture capital world, participated in an investment round for Ark Labs, propelling its mission to facilitate Bitcoin payments.A notable move in Wood's strategies entailed halting the acquisition of ARKB and COIN holdings and disposing of a chunk of Robinhood shares. However, ARK quickly reversed its approach, returning to buying Coinbase shares after exuding a period of dormancy. According to estimates from ARK and expectations from the CEO herself, Bitcoin could hit as high as $124k by the year-end, or even to $1.5 million by 2030.
ARK Coin News Analytics from Tue, 04 Jun 2024 07:00:00 GMT to Wed, 08 Jan 2025 18:14:51 GMT -
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