Image default
Market Updates

Cathie Wood Puts Almost $ 80 Million into Bitcoin and Coinbase

Overview:

  • Cathie Wood is considered a great supporter of Bitcoin
  • Through her investment company, she now invested in Bitcoin and Coinbase
  • The Bitcoin is an important building block in your long-term investment planning

American star investor Cathie Wood currently seems to see a suitable entry point into the Bitcoin (BTC). As it became known, she bought over one million shares of the Grayscale Bitcoin Trust through her popular investment company Ark Invest. She also increased her position at Coinbase. The 65-year-old is seen as a crypto advocate and has a bright future for the entire market. Often called the” best investor in the world”, the investor took advantage of the fall of bitcoin below $ 30,000 to enter on a large scale.

Cathie Wood Strikes at Bitcoin Trust and Coinbase

Recently, the Bitcoin had to accept sharp price losses and the price briefly fell below $ 30,000. Cathie Wood used this circumstance as an entry point and struck at the Bitcoin Trust of the fund company Grayscale. In total, Wood bought 1,046,002 shares in the trust for their Next Generation Internet ETF. The investment amounts to approximately 29 million US dollars. A share of the Bitcoin Trust cost $ 28.01 at the time. But that’s not all: Cathie Wood also increased her position on a large scale at another company from the crypto market.

For almost $ 50 million, she bought 214,718 shares of Coinbase. The company has only recently been listed on the stock exchange, but already represents an important position in the innovation fund of Ark Invest. At the time of purchase, the price of a Coinbase share was just over $ 222. In the aforementioned fund, Coinbase already comprises 3.5 percent of the total share. Cathie Wood focuses on the acceptance of Bitcoin and predicts a significant increase in value in the future. Time and again in the recent past, she has shown a happy hand in investing in new and emerging markets.

Although Ark Invest’s funds are already making headlines today for their enormous value increases, they are designed for the long term due to their focus on future markets. In particular, Bitcoin represents an important building block in the form of investments in Bitcoin trusts or companies from the crypto scene.

Cathie Wood: behind the “she-wolf”

Famous investors often carry a designation in the media, which distinguishes them due to their investment style. Virtually everyone knows Warren Buffet, the “Oracle of Omaha”. Buffet became one of the richest people in the world due to his patient long-term investments. Cathie Wood also bears such an epithet. Again and again she is called a “she-wolf”, who has a good eye for her prey and always strikes at the right moment. The multimillionaire (estimated fortune: 250 million US dollars) has been working on Wall Street since the 1980s. She quickly rose to become one of the most successful investors.

Especially in recent years, she plays out her experience and caused a stir with exciting forecasts. So, already in 2019, she predicted that Tesla could reach a valuation of $ 1,4 trillion. In 2014, she founded her investment company Ark Invest. Assets under management currently exceed $ 50 billion. The company manages several funds that are largely focused on future markets. These include the areas of space, Fintech innovation, 3D Printing and Next Generation Internet.

Conclusion: Cathie Wood continues to rely on Bitcoin

Again and again, the successful investor Cathie Wood emphasizes that the Bitcoin has far from exhausted its full potential. She is considered a staunch supporter of cryptocurrency, which has a high priority in the products of her investment company. The fact that she preaches more than just empty words is shown by her current investments.

For nearly $ 80 million, it acquired shares of the Grayscale Bitcoin Trust and Coinbase. Especially the American trading platform for cryptocurrencies occupies a large place in the future fund of Ark Invest after the latest investments. Time will tell if the” she-wolf ” again had the right smell.

Related posts

Kraken IPO possible in 12 to 18 months according to CEO Jesse Powell

Stanislav Melichar

El Salvador: Bitcoin becomes official currency

Stanislav Melichar

Bitcoin Prices from $ 288,000 to Next Halving

Stanislav Melichar

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More