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Crypto Bull Buys Tesla, Robinhood, Coinbase Shares Amid Silvergate Setback

Crypto bull Cathie Wood Ark Invest buys more Tesla, Coinbase, and Robinhood shares amid Silvergate Bank crisis.
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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.

Also Read: Poloniex Lists Top Shiba Inu Ecosystem Token Bone Shibaswap (BONE)

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
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