The investment company ARK announced buying new shares in various companies, among which Coinbase is the most important for the crypto world. The successful investment holding has numerous plans to stay in the competition with other companies and break records in terms of investment outcomes.
Cathie Wood, the CEO, and CIO of ARK, is a Bitcoin enthusiast. She has guided the company in the past years toward more crypto investment and is still buying shares in this industry.
Institutional Investors Still in Play
Institutional investors play critical roles in the financial sector. They bring big amounts of money and help companies grow faster and better in terms of stock values. It was a couple of years ago that multiple institutional investors entered the crypto world. They started investing by buying Bitcoin or other valuable crypto assets.
The movement continued by investing in crypto startups or buying crypto-based companies’ stocks. ARK is among the most active institutional investors in this space. The firm announced buying another 113,043 shares of Coinbase lately.
ARK is a holding with various investment groups that each one specializes in a specific sector. ARK Fintech Innovation ETF is responsible for investing in tech-based companies. Most of its portfolio consists of fintech companies. Square, Zillow, Pinterest, PayPal, and Alibaba are some of them.
The latest report from the investment and tradings of this ETF shows that execs are interested in crypto-based companies, too. The data shows that the ARK Fintech Innovation ETF has bought 113,043 shares of Coinbase lately.
Catherine Wood has founded the ARK investment holding. Some people compare her activity with Warren Buffet and believe she can become one of the biggest female investors of all time. She is known for held bold predictions and crypto enthusiast sayings. She predicted the Tesla stock price would reach $4,000. Another big prediction from Wood is that Bitcoin will reach a price of $500,000. She said that in an interview in November 2020.
Coinbase is one of the few crypto-based companies that were successful in launching an IPO. Although the stock price didn’t [erform well in the first days and weeks, there are still many institutional and individual investors buy the company’s stock. The latest trading record from ARK may also affect the price and traders’ decisions in buying Coinbase shares. Because retail investors often follow the steps of big players like ARK. after all, we can expect Coinbase shares to follow the recent spike in Bitcoin price.
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