Ark Investment Management, led by CEO
Cathie Wood, continues its business strategies with its $373M purchase of
Circle shares, $26.6M acquisition of
Coinbase shares, and analysed Bitcoin's potential to reach from $1.5M up to $2.4M within the next decade. To further cater to retail investors, ARK is splitting its
Bitcoin ETF shares on
June 16. However, after a massive post-IPO rally, Ark Invest sells off Circle shares for a total of ~$172M. Wood also expands their portfolio by buying over 4.48M shares of Circle and another $13M amidst a market sell-off. Despite these, most memecoins will end up 'worthless', as mentioned by Wood. ARK's investments are bolstered by
BlackRock's potential acquisition of 10% stake in Circle's IPO and their significant investment in Bitcoin. It is pertinent to note the Silver Lining in the current economic scenario. Revisions in Bitcoin price predictions emerge amidst global market variables, presenting a potential upside for Bitcoin in 2025 and setting a worst-case scenario at $300K by 2030 and up to $2.4M in bullish circumstances. Wood's firm filters their holdings and invests more into Coinbase, fueling bullish sentiments about Bitcoin and further advancing Wood's innovative vision for ARK.
ARK Coin News Analytics from Wed, 09 Oct 2024 07:00:00 GMT to Wed, 18 Jun 2025 18:20:39 GMT -
Rating 6
- Innovation 7
- Information 8
- Rumor -4
