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Thursday, Cathie Wood, the CEO of Ark Invest, bought 158,116 shares of the cryptocurrency exchange Coinbase and 22,514 shares of the electric car company Tesla. In December, as the prices of Coinbase and Tesla shares fell to new lows, Cathie Wood bought a lot of those stocks.
Recent Released: What Is Crypto Prices Today Update 30 Dec 2022?
On Thursday, shares of both COIN and TESLA went up by more than 6% and 8.
Cathie Wood buys Coinbase, and shares of Tesla fall.
On December 29, Ark Invest, which is run by Cathie Wood, bought 158,116 shares of Coinbase (COIN) and 22,514 shares of Tesla (TSLA). Even though Ark Invest funds continue to do poorly in this bear market, Cathie Wood is still hopeful that things will turn around. Cathie Wood is known for buying when prices go down. This helps her clients make more money.
Cathie Wood Ark:
Ark Invest bought 628,164 Coinbase shares in 10 transactions and 254,992 Tesla shares in 13 transactions in December.
Cathie Wood still thinks that electric cars and cryptocurrencies, especially Bitcoin, are good investments. Ark Invest’s founder Wood has said again and again that the price of Bitcoin could reach $1 million by 2030.
Most of the purchases have happened in the last 10 days, when shares of Coinbase and Tesla hit new lows. In a recent tweet, Cathie Wood said that cryptocurrencies are going to be the next big thing in the money world.
Thought leaders should look at what they have learned from crypto crises and reevaluate the future of bitcoin, ether, and other crypto assets. SBF didn’t like bitcoin because he couldn’t control it. This was because bitcoin was decentralised and open. Change is happening with money!
Price of Coinbase
On Thursday, the price of Coinbase (COIN) shares went up by about 7%, closing at $34.78. The crypto bear market has caused the price of COIN to drop by 86% this year. On December 28, the price of the stock hit its all-time low of $31.83.
Price of a Tesla (TSLA)
Thursday, the price of a Tesla (TSLA) share went up by 8% to $121.82. On December 28, Tesla’s stock hit a 52-week low of $108.24.
Before the end of the year, the crypto market has trouble.
In the last 24 hours, the crypto market cap has dropped by almost 1%, and it is now at $790.75 billion. The price of Bitcoin falls below the support level of $16,500, and is now trading at $16,481. Ethereum has done the same thing and is now trading above the $1,170 support level.
Source: Google Trend