Ark Invest’s Cathie Wood Buys Coinbase (COIN), Tesla (TSLA) Dip – Crypto News – Crypto News
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Ark Invest’s Cathie Wood Buys Coinbase (COIN), Tesla (TSLA) Dip – Crypto News

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Ark Invest’s CEO Cathie Wood buys more shares of cryptocurrency exchange Coinbase (COIN) and electric vehicles firm Tesla from the dip. Cathie Wood remains bullish on electric vehicles and cryptocurrencies, especially Bitcoin. Ark Invest founder Cathie Wood recently reiterated that the Bitcoin price could hit $1 million by 2030.

Cathie Wood Adds More Coinbase and Tesla Shares

Ark Investment Management LLC’s funds including Ark Innovation ETF purchased nearly 75,000 shares of Tesla and about 297,000 shares of Coinbase, Reported Bloomberg on December 15.

Cathie Wood’s Ark Invest is one of the largest shareholders of crypto exchange Coinbase, with a 4.3% stake as of September. The firm also holds a 0.13% stake in Tesla, with the stock being one of the top holdings in the main Ark Invest fund.

Cathie Wood continues to buy Coinbase shares following the collapse of Sam Bankman-Fried’s crypto exchange FTX. Known for accumulating shares at the dip, Cathie Wood purchased 420,949 COIN shares on November 8 and 78,982 COIN shares on December 12.

Coinbase share price on Tuesday fell to $38.69. The COIN price jumps nearly 4% on Wednesday to $40.19.

Tesla share prices fell below $160 amid concerns of a potential recession, a hawkish Federal Reserve, and founder Elon Musk’s moves to reduce his stake in the EV maker.

Cathie Wood clears her perspective on bitcoin price prediction. Wood asserted that she is going to hold her Bitcoin forecast of hitting $1 million per coin by 2030.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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