Claim BonusCathie Wood Bullish On Bitcoin, Investing Heavily In Coinbase And Tesla
Cathie Wood’s investment management firm Ark Invest purchased an additional 74,792 shares of crypto exchange Coinbase (COIN), the company said on Thursday. Ark Invest also added 99,523 shares of Tesla (TSLA).
Cathie Wood has been actively buying COIN and TSLA shares in the last few weeks, pushing the shares to rise higher despite uncertainty in the global markets.
ARK Invest Buys Coinbase and Tesla Shares
Cathie Wood remains bullish on electric vehicles and cryptocurrencies, especially Bitcoin. Ark Invest founder Cathie Wood recently reiterated that Bitcoin price could hit $1 million by 2030.
Considering a recovery in the global market, ARK Invest is actively buying Coinbase, Tesla, and other shares showing signs of recovery. Ark Invest purchased 74,792 shares of Coinbase (COIN) and 99,523 shares of Tesla (TSLA) on January 11.
This marks the fourth purchase of Coinbase shares by Ark Invest since the start of the year. Thus, the company has added 280,824 shares of Coinbase in total, with 108,548 shares for the ARKK fund. As reported earlier, Ark Invest purchased 628,164 shares of Coinbase in 10 transactions in December.
Furthermore, Cathie Wood’s ARK Invest purchased 475,522 shares of Tesla since the start of the year. It added 343,742 shares specifically to the ARKK fund. In December, ARK Invest purchased 254,992 shares of Tesla in 13 transactions.
Coinbase (COIN) shares are trading at 43.79, up 26% in a week. Whereas, Tesla (TSLA) shares closed at 123.22 on Wednesday, up 12% in a week.
Also Read: Coinbase CEO Brian Armstrong Announces 20% Additional Layoff
Crypto Market Starts 2023 on a Positive Note
The crypto market recovery in the last 24 hours indicates a positive start to 2023. Bitcoin (BTC) price jumped 5%, with the current price trading at $18,200. Meanwhile, Ethereum (ETH) price soared 7%, hitting a high of $1,408.
Crypto analyst Michael van de Poppe predicted a continuous upside move in the market for the next 3 months. Traders’ sentiment has turned positive amid the recovery in the broader crypto market.
Also Read: Bitcoin Futures ETF Launched Amid Crypto Market Recovery
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Jane Street and Abu Dhabi Wealth Fund Mubadala Increase Holdings In BlackRock’s Bitcoin ETF
- FOMC Minutes Drop Tomorrow: Will Crypto Market Rally or Face Fed Shock?
- BlackRock Amends Filing For Staked Ethereum ETF, Eyes 18% of Staking Rewards From ETH Fund
- Arizona Advances Bitcoin, XRP Reserve Bill Using Seized Crypto Assets
- Bitcoin ETF Update: BlackRock Signals BTC Sell-Off as Kevin O’Leary Warns of Decline In Institutional Demand
- Pi Network Price Beats Bitcoin, Ethereum, XRP as Upgrades and Potential CEX Listing Fuels Demand
- 5 Things Dogecoin Price Needs to Hit $0.20 in Feb 2026
- Bitcoin Price Prediction as Experts Warns of Quantum Risks
- Dogecoin, Shiba Inu, Pepe Coin Price Predictions As BTC Crashes Below $68k
- Ethereum Price Outlook as Harvard Shifts Focus from Bitcoin to ETH ETF
- HOOD and COIN Stock Price Forecast as Expert Predicts Bitcoin Price Crash to $10k
