⇑ ARK Invest's Strategic Crypto Moves and Predicted Bitcoin Boom
ARK Invest , led by Cathie Wood , made notable moves in the crypto market. One major action included offloading significant holdings of Circle...
The recent news in the world of cryptocurrency revolves significantly around the actions of ARK Invest under the direction of Cathie Wood. ARK Invest has been strengthening its position by purchasing considerable amounts of Coinbase shares whenever the market dips, suggesting a long-term conviction in the rapid growth of the coin. It has also sold nearly equivalent amounts of its Bitcoin ETF amid market slumps.
The investment firm believes in Bitcoin's potential, predicting that the currency could reach up to $2.4 million by 2030. This bold forecast is supported by the expected increase in institutional demand, hinting at a big inflow into Bitcoin ETFs managed by companies like ARK 21Shares and Fidelity.
Simultaneously, Cathie Wood has expressed her disapproval of memecoins, stating these will likely become 'worthless' in the future. ARK has also been actively participating in the crypto sector, featuring in IPOs, like a potential 10% stake in Circle's.
Notably, ARK Invest has shown interest in a unique investment avenue in the form of Solana through 3iQ's Staking ETF, with its stake signaling a shift towards more technologically advanced cryptocurrencies and blockchain technologies.
To wrap up, the firm has also seized opportunities outside cryptocurrencies by investing in technologically innovative companies such as AI robotics firm Apptronik.
ARK Coin News Analytics from Wed, 09 Oct 2024 07:00:00 GMT to Wed, 28 May 2025 17:46:33 GMT - Rating 7 - Innovation 8 - Rumor 7
