- On February 14, investment firm Ark Invest bought 14,636 shares of Coinbase (COIN).
- Cathie Wood continues to have a positive outlook on Bitcoin and other cryptocurrencies.
Despite regulatory uncertainties in the crypto industry, Ark Invest CEO Cathie Wood continues to acquire equities of cryptocurrency exchange Coinbase at cheap prices.
As Coinbase’s share price fell below $58 on February 14, investment firm Ark Invest bought 14,636 shares of Coinbase (COIN). According to the records, Ark Invest, run by Cathie Wood, has acquired 11,778 Coinbase shares for the ARK Innovation ETF and 2,848 Coinbase shares for the ARK Next Generation Internet ETF.
Continued Positive Outlook
It wasn’t until October that Ark Invest resumed its purchases of Coinbase stock. After the failure of crypto exchange FTX in December, Ark Invest bought 628,164 shares of Coinbase in 10 separate transactions during the price range of $31.55.
Cathie Wood continues to have a positive outlook on Bitcoin and other cryptocurrencies. Wood, the founder of Ark Invest, has predicted before that Bitcoin’s price may reach $1 million by 2030, and she has lately reaffirmed that prediction.
On February 2, following a stunning increase in stock price amid the crypto market rebound, the price of Coinbase (COIN) reached a high of $81.46. Cathie Wood’s Ark Invest began buying COIN equities again in February when prices fell in response to U.S. market volatility. Paxos’ BUSD Offering and the SEC’s crackdown on cryptocurrency staking.
On February 10 and 13, Ark Invest purchased 162,325 and 118,698 COIN shares, respectively. As of Tuesday’s end, COIN stock had risen by more than 4 percent, to a price of $59.03. Pre-market trading has seen a 2.15 percent increase, with prices at $60.30. As an insurance policy, she thinks Bitcoin may aid nations experiencing inflation.
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