ARK Invest, led by
Cathie Wood, has made several significant moves in the
crypto market, betting big on
Bitcoin and tech stocks like
Coinbase and
Solana. Multiple predictions have been made by the firm, with one establishing Bitcoin's price soaring as high as
$2.4 million by 2030 in a bullish case scenario due to anticipated institutional demand. While the firm loaded up on
Robinhood and actively invested in Coinbase, it scaled back on its Bitcoin ETF. Despite widespread enthusiasm for Bitcoin, ARK Invest decided to reduce its holdings. Making a contrarian move, the firm continues to believe in significant potential for Coinbase in the crypto territory. Amid global market turbulence, Cathie Wood's ARK Invest bought more Coinbase shares and offloaded their own Bitcoin ETF. Some market analysts view these moves as an indication of strong institutional demand for Bitcoin, fostering optimistic outlooks for its future value. However, ARK Invest has cautioned about 'meme coin mania', suggesting most will end up 'worthless'.
Solana, considered a promising cryptocurrency, has also caught the company's attention as ARK Invest has added it to two of its ETFs. The company perceives the current market as 'too pessimistic' and predicts further adoption surge for Bitcoin.
ARK Coin News Analytics from Mon, 28 Oct 2024 07:00:00 GMT to Wed, 14 May 2025 20:09:04 GMT -
Rating 5
- Innovation 7
- Information 8
- Rumor 3
