ARK Invest, directed by CEO
Cathie Wood, has exhibited significant interest in
Coinbase, the popular cryptocurrency exchange platform. Over the course of several months, the asset management firm has consistently purchased Coinbase shares in millions even amid notable market volatility. Despite these swings, Coinbase, among the top stocks in ARK Invest's portfolio, continues to attract Wood's investment. This is clearly shown by ARK’s investment moves designed to capitalize on dips in Coinbase's stock price, with ARK securing up to 41,032 shares during one such instance. Cathie Wood's ARK has also offloaded its own
Bitcoin ETF, opting instead to strengthen its position in Coinbase. Despite Wood’s warning about the meme coin frenzy stating that most of them will end up 'worthless', she has made a bullish prediction for Bitcoin, putting its potential future value at $1.5 million. Amidst these investments, the head of ARK Invest's crypto division has quit, littering uncertainty. Despite worries about a potential recession, Wood continues to capitalize on investment opportunities in cryptocurrency, recently adding $80M in Bitcoin to her portfolio. Finally, ARK Invest sold $3.9m worth of Coinbase shares following Powell's hawkish speech, but they continue to make significant buys during downturns.
ARK Coin News Analytics from Tue, 06 Aug 2024 07:00:00 GMT to Fri, 11 Apr 2025 09:27:00 GMT -
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