Cathie Wood is the CEO of a popular investment firm, Ark Invest. She is known as a very modern investment CEO who is clear about her priorities. With her recent actions in the investment market, one could compare her to Elon Musk, and they won’t be wrong. They both have the trait of making investments no matter the critics’ opinions. You can see that in Elon Musk’s case when he purchased Twitter. For Cathie Wood, her recent crypto investments for Ark Invest seem to be freaking many out.
Cathie Wood seemed to have gone into a buying spree for Ark Invest within the past few months. The investments she made weren’t just any kind of investments. There were those many considered risky, but Wood remain unfazed by any opinion that is not hers. Most of her crypto investments receive criticism because of the current crypto market situation. But what does Ark Invest crypto portfolio look like?
ARK Invest Recent Crypto Investments
Ark Invest portfolio now has new additions of more crypto-related stocks, which seems to be freaking many out. The reason behind this is simple. The type of crypto stocks Ark Invest is buying is termed risky.
Recently, the investment company purchased large numbers of Coinbase shares. This is quite a lonely path to take, considering the recent charges against the crypto exchange by regulators. The Securities and Exchange Commission charged Coinbase with many crimes. But the first and most prominent was operating as an unregistered securities exchange. Next, Coinbase was accused of depriving investors of protection by selling illegal securities.
But none of these charges fazed Cathie Wood, as she purchased 419,324 Coinbase shares. These shares were worth a whopping $21.6 million at the time of the purchase. Coinbase shares weren’t the only extravagant purchases of Ark Invest.
Cathie Wood was also willing to bet money on Block.inc shares after putting in a whopping $19.9 million. Within the first week of June was when Ark Invest made this investment. They purchased about 305,573 Block.inc shares across six buys.
Cathie Wood Crypto Romance Started a Long Time
Ark Invest CEO is a crypto enthusiast, as her obsession with the industry started long ago. In 2022, Cathie Wood made several predictions and investments in the crypto industry. At one point, she predicted that Bitcoin would reach $1 million in 2030. At that time, Bitcoin was even less than $20k.
In November 2022, Wood added to Ark Invest’s portfolio 588,586 shares of Grayscale Bitcoin Trust. The cryptocurrency (Bitcoin) was hovering around $16k then.
Wrapping up, Cathie Wood is convinced about the crypto industry with some of her recent investments. Her recent investments in Coinbase show tremendous confidence, despite risky chants. While many might consider such investments inconsiderate, Cathie Wood is sure of her decisions for Ark Invest.