ARK Invest, led by its CEO
Cathie Wood, has been making big moves in the crypto market, and its bullish prediction for Bitcoin peaks at a staggering
$1.5M by 2030. However, this estimate was termed as 'too pessimistic' by some. Amid market downturns, ARK Invest decided to 'buy the dip', focusing on coins including Tesla, Palantir, and Coinbase. With Bitcoin falling to multi-month lows, ARK Invest swapped nearly $9M of its own Bitcoin ETF for Coinbase. While continuing to buy Coinbase stocks during the market downturn, ARK also routinely sold off portions of its own Bitcoin ETF. Despite this, the firm remains optimistic and has pronounced Bitcoin to be on track for its projected value.
Ark Invest didn't just stick to buying and selling; it also made adjustments to its investment portfolio, all the while staying committed to crypto assets like the Bitcoin and continuing the acquisition of Coinbase stocks. The investment giant altogether rejected the Trump meme coin due to a perceived lack of utility but has expressed a willingness to support 'the big three' - Bitcoin, Ethereum, and Solana.
In a bid to diversify, Ark has also invested in Tempus AI and sold Robinhood stocks while buying Amazon and Coinbase one. Despite the roller coaster ride of the crypto market, ARK's bullish predictions largely remain unweathered.
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