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Cathie Wood's ARK Invest has been playing an active role in the cryptocurrency sector, with a primary focus on buying and selling shares of Coinbase. Despite market volatility, ARK invest maintained a bullish stance, acquiring $2.2 million of Coinbase shares on several occasions, even amid a slump, while includes a noteworthy offload of $3.9 million worth of shares at times of faltering market dynamics. Skeptical about 'meme coins', Wood dismissed the Trump coin, emphasizing its lack of utility.
ARK Invest explored the potential lessons ARK could learn from Lightning, and generated impressive developments, such as ARK Labs' receipt of a $2.5 million funding round lead by Tim Draper, to advance Bitcoin payment solutions. A constant dedication to exploring growth in Coinbase is evidenced as ARK Invest returns consistent attention, and made strategic financial decisions in buying and selling Coinbase shares, offloading amounts as high as $31 million.
Bitcoin featured heavily in ARK's forward-thinking and ambitious predictions, setting a $1.5 million price target. Their expectations for the cryptocurrency market stressed on a significant value increase for Bitcoin, casting it as an asset still in its early stages despite crossing the $100K mark. However, ARK was equally strategic in reducing their exposure to volatility, selling up to $36 million worth of Robinhood stock. Cathie Wood of ARK Invest also proposed the concept of strategic Bitcoin reserve, bringing regulatory clarity for digital assets.
ARK Coin News Analytics from Sun, 21 Apr 2024 07:00:00 GMT to Wed, 29 Jan 2025 12:10:48 GMT - Rating 7 - Innovation 9 - Information 8 - Rumor 4