Buying and selling is his job! Don’t see this as a sign of any trend or pessimistic intuition about the crypto market in the short term, no, Cathie Wood is just doing what she does best, which is to trading. Ark Invest must make money and for that, the idea is rather simple on paper: buy when prices are low and resell part of the capital after a rise in prices. Simple. Basic. And this is exactly what has just happened in recent hours in the New York offices of Catherine Duddy Wood, who also remains one of the most influential personalities bullish on the future of Bitcoin. We take stock of the latest movements in his portfolio as well as his latest statements that you will surely love!
Bitcoin Spot ETFs: the green light from Cathie Wood
A few dozen hours after the final approval of Bitcoin spot ETFs, some might wonder if now is the time to sell crypto stocks, but not Ms. Wood. Confident in her choices and aware of having purchased the shares of Coinbase and of Robinhood At the right time, she just sold a good bunch to simply collect profits. Thus, these are two funds from the company Ark Invest which sold COIN and HOOD.
The ETF ARK Innovation sold Thursday January 11 26,301 shares of Coinbase Global Inc. and 341,592 shares of Robinhood Markets Inc and the ETF ARK Next Generation gave in to him 4,980 shares Coinbase and 23,838 shares Robinhood that same day. Concerning Brian Armstrong’s company, this represents 4.4 million of dollars and for the favorite application of young Americans, during the day, this makes 4.3 million of dollars. Despite the reassuring news regarding the crypto market, the share price of these two companies closed lower on Thursday January 11, which confirms the good timing of the movement of teamsArk Invest.
The director of Ark Invest still too bullish on the future of Bitcoin
Because we must not make a mistake and imagine that Cathie Wood gets rid of its assets linked to cryptocurrency, it has a lot of them in reserve and it is, we repeat, a simple portfolio balancing. At the next drop, it will be the opposite and Ark Invest will surely strengthen its positions!
Because the least we can say is that Ms. Wood is not at all pessimistic about the future of cryptocurrency in general and Bitcoin in particular. While she was considering a BTC at 1 million dollars last October, it revised its copy and is now banking on the king of crypto at best. 1.5 million by 2030.
Why this 50% increase in the prediction? ETFs of course!
“We believe the likelihood of a bullish scenario has increased with this SEC approval. This is clearly a green light! »
Catherine Wood on the future price of Bitcoin – Source: CNBC
But in the event that this scenario does not take place, she envisages two others: a bearish one and a bullish one. The first would see a price of Bitcoin at $258,500 and the second to $682,800. As a reminder, Ark Invest is one of the lucky ones who now offer their own Bitcoin ETF for cash to their clients.
As for price predictions coming from an actor himself involved in the market, one might believe that this is a way of reassuring oneself, or even of encouraging investors to deposit their money. Maybe. But, another institution is also considering a 6-digit Bitcoin price within a few years and this time it is a traditional bank.