ARK Invest and its CEO, Cathie Wood, have been in focus due to their continued bullish outlook on bitcoins, the reason being viewed as the rise in institutional demand. The firm made a bold bet on the stablecoin giant, Circle, buying over $373M worth of shares on the first day of trading as Circle enters Wall Street. This move was closely followed by buying more coinbase shares at every market sell-off, showing strong belief in the platform. However, they also sold their own Bitcoin ETF shares, reflecting a dynamic investment strategy in the crypto space.
Simultaneously, ARK Invest notably engaged in other ventures. They collaborated in a $403M raise with an AI robotics firm, Apptronik. In addition, ARK Invest added Solana into two of their tech ETFs.
Amid these developments, ARK Invest released its Bitcoin price target prediction for 2030, projecting the price could hit $1.5M by 2030, demonstrating ARK's belief in Bitcoin's long-term growth due to its adoption surge, and the increasing institutional demand for the digital asset.
Although ARK Invest has shown enormous optimism towards Bitcoin, they have expressed a warning about memecoins, stating most of them will end up 'worthless'. This indicates ARK's approach in identifying truly innovative cryptocurrencies and avoiding copycats or meme coins.
ARK Coin News Analytics from Thu, 05 Dec 2024 08:00:00 GMT to Tue, 10 Jun 2025 20:24:48 GMT -
Rating 8
- Innovation 7
- Information 9
- Rumor -2
