Cathie Wood’s Ark Invest Buys the Bitcoin Dip, Adds $20 Million in GBTC

2021-5-27 06:44

Without a doubt, Cathie Wood has been one of the most vocal proponents of Bitcoin’s technology and value on Wall Street. Her fund Ark Invest was the first ever institutional fund to invest in through Grayscale Bitcoin Trust (GBTC) in 2015, which was when Bitcoin was only worth 200 dollars.

One of Wood’s signature funds, ARK Next Generation ETF (ARKW), is reported to hold approximately $240 million GBTC shares, with indirect exposure to the major cryptocurrency through Tesla, Square, and Coinbase, among others. 

Related Reading | Ark Invest Adds $350 Million in Coinbase Shares: A Crypto Bull Case? 

Even now, gaining exposure to the crypto markets remains difficult for institutional investors, with the Securities and Exchange Commission (SEC) delaying its review and approval of Bitcoin ETFs. 

However, Bitcoin’s recent 40% decline from highs have sparked the interest of institutional investors looking to buy in. Billionaire investors like Carl Icahn and Ray Dalio, previous skeptics of Bitcoin, were reportedly buying the digital asset. 

Ark Invest Buys More Bitcoin in its Signature ETFs

For Ark Invest, though, it was a case of buying the dip. Recent SEC filings revealed that Ark Invest purchased $19,872,939 worth of Bitcoin during the past week’s market turmoil. Ark’s method of exposure, as expected, was through Grayscale Bitcoin Trust — accumulating another 639,000 shares. 

Bitcoin, since reaching its peak price of $63,000 in mid-April, tumbled to as low as $31,000 in the most recent crash. Source: Tradingview.com

Back in March, Wood said that Bitcoin had much more room to grow. When Bitcoin’s market capitalization was still at $1 trillion, the fund manager went on a CBOE panel to say that “[o]ne trillion dollars is nothing compared to where [Bitcoin] ultimately will be.”

Related Reading | Ark Invest CEO on Bitcoin: “1 Trillion is Nothing” Compared to Future Growth” 

Despite the recent correction and concerns over mining energy consumption, it’s clear that Ark remains ever so bullish on Bitcoin. As the broader crypto market continues to recover, Wood’s investment decision to buy the “bottom” may pay out just yet.

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Источник: bitcoinist.com

bitcoin wood → Результатов: 54


Cathie Wood still expects Bitcoin to eventually be priced at $500K

Cathie Wood reiterates her super bullish stance on Bitcoin. She doesn’t see the recent FTX collapse as much of a threat. Bitcoin is currently up about 40% versus the start of the year. The recent surge in Bitcoin is just a drop in a bucket compared to where the price is headed, says Cathie Wood […] The post Cathie Wood still expects Bitcoin to eventually be priced at $500K appeared first on CoinJournal.

2023-2-2 17:49


“We’re In A Capitulation Phase,” Says Ark Invest’s Cathie Wood; High Conviction In $500k Bitcoin Target

While she believes it is a “really great time to buy,” she doesn't know if the bottom is in because “You never know how low is low when a market gets very emotional.” The post “We’re In A Capitulation Phase,” Says Ark Invest’s Cathie Wood; High Conviction In 0k Bitcoin Target first appeared on BitcoinExchangeGuide.

2021-5-20 20:40


Фото:

Chris Wood of Jefferies Investment Firm Cuts Exposure to Gold for Bitcoin

Investment firm Jefferies trims exposure to gold for the first time in years in favour of bitcoin (BTC). Christopher Wood Cuts Exposure to the Yellow Metal According to a report by Business Standard, Chris Wood, global head of equity strategy at investment company Jefferies is poised to reduce exposure to the time-tested precious yellow metalRead More

2020-12-21 16:00


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