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Investing.com – Renowned fund manager Cathie Wood, who manages the Ark Invest funds she founded, is an avid fan of , and cryptocurrencies in general.
During an intervention in Peter McCormack’s “What Bitcoin Did” podcast yesterday, Cathie Wood spoke about her first position on BTC, stating that she had bought $100,000 worth of bitcoins (BTC) when the cryptocurrency was worth around $250. She did not specify the date, but the quoted price puts the purchase in 2015.
Wood also clarified that she still holds this position, which means that her current unrealized profit is around $7.6 million. In other words, the position shows a gain of +7500%.
Note that this is a personal bet on bitcoin, since it was impossible at the time to do so in Ark Invest funds for regulatory reasons.
It should be noted, however, that ARK eventually managed to gain exposure to bitcoin through the Grayscale Bitcoin Trust (GBTC), whose ARK Next Generation Internet Fund (ARKW) currently holds around 5.9 million shares for around 67.4 millions of dollars.
Regarding the recent evolution of Bitcoin, it should be noted that the cryptocurrency has been consolidating for several weeks just below the $20,000 threshold, a sideways movement which comes after almost a year of decline since the cryptocurrency’s all-time high in November. 2021.
However, this behavior, along with other clues, could portend an imminent bear market in cryptocurrency, according to many experts and analysts.
In the short term, however, Bitcoin faces a key obstacle consisting of the major psychological threshold of $20,000 and the 100-day moving average around $20,900.