Crypto Bull Buys Tesla, Robinhood, Coinbase Shares Amid Silvergate Setback
Crypto bull Cathie Wood remains bullish on Bitcoin and other top cryptocurrencies despite the damage caused by Silvergate Bank’s decision to shut down. Cathie Wood’s investment management firm Ark Invest purchased additional shares of Elon Musk’s electric vehicle manufacturer Tesla, crypto exchange Coinbase, and trading firm Robinhood.
Ark Invest purchased a total of 69,329 Tesla (TSLA) shares as the price dipped to $180 amid price cuts and steering wheel investigation. Cathie Wood’s Ark Invest purchased 51,960 Tesla stocks for its ARK Innovation ETF (ARKK) and 17,369 Tesla stocks for ARK Next Generation Internet ETF (ARKW), according to transactions seen by CoinGape.
Tesla (TSL) stock price rises marginally on Thursday after the market rises due to an increase in unemployment claims in February, with the price currently trading at $182.
Moreover, Ark Invest purchased 268,086 Robinhood (HOOD) shares for ARKW as the price continues to remain low amid crypto market uncertainty. Cathie Wood’s Ark Invest fund also purchased 1,058,281 Robinhood stocks on March 7 and 219,883 stocks on March 6.
Robinhood (HOOD) stock price has climbed 1% today, with the price trading under $10.
Cathie Wood is highly bullish on Coinbase amid the latest developments related to the crypto exchange firm. The new Ethereum Layer-2 blockchain Base and acquisition of One River Digital Asset Management made Ark Invest purchase Coinbase shares more than any other shares.
Ark Invest purchased 55,599 Coinbase (COIN) shares in total recently. Cathie Wood’s Ark Invest purchased 47,568 Coinbase stocks for its ARK Innovation ETF (ARKK) and 8,031 Coinbase stocks for ARK Next Generation Internet ETF (ARKW).
With the latest Coinbase shares purchase, the total reaches 211,634 this month. Ark Invest purchased a total of 722,942 Coinbase (COIN) stocks in February. COIN price is trading sideways near the $62 level.
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