Promising crypto stocks? – Despite the crypto winter of late 2022, Cathie Woodfounder of the fund Ark Investstayed confident in the sector of Bitcoin (BTC) and cryptocurrencies. She did not hesitate to buy COIN stock from the Coinbase crypto exchange to his bottom (lowest in the market), in December 2022. At the beginning of March, it reiteratesand also bets on the increasingly crypto-friendly broker robinhood.
Cathie Wood likes to bet on companies close to cryptos
There is almost no need to present Ark Invest (Or ” ARK Investment Management LLC for his full name). Cathie Wood has made its investment funds known in particular thanks to its big (winning) bet on the shares of the group You’re here by Elon Musk.
But the founder of Ark is also very interested by the universe of Bitcoin and crypto-assets. The latest evidence is investments of his company in cryptocurrency-related and publicly traded businesses. In this case, in Coinbasestock CORNERAnd robinhoodstock HOODwhose shares are both listed on the NASDAQ stock exchange.
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On March 7, 2023 alone, Ark Invest purchased a total of 53,799 shares CORNER mainly for its ETF Ark Innovationand almost 1.06 million HOOD shares for its ETF Ark Next Generation Internet.
At the current price of these shares (March 9, around 4 p.m.), this represents an investment of approximately $3.4 million in Coinbase shares ($63 per COIN share), and nearly $10.3 million in those of Robinhood (9.7 dollars per HOOD share).
It must be said that Cathie Wood always imagines seeing one day a $1 million bitcoin, and more ! By betting on the actions of Coinbase and Robinhood, this is therefore a bet (barely) indirect what is Ark Invest doing in the cryptocurrency and blockchain sector.
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