Cathie Wood Invests in Coinbase and Tesla Bullish on Bitcoin

Ark Invest, which is run by Cathie Wood, bought another 74,792 shares of the cryptocurrency exchange Coinbase (COIN), the company said Thursday. Ark Invest also bought 99,523 Tesla shares (TSLA).

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In the last few weeks, Cathie Wood has been actively buying shares of COIN and TSLA. This has caused the shares to rise, even though the global markets are uncertain.

ARK Invest buys shares in both Coinbase and Tesla.

Cathie Wood still thinks that electric cars and cryptocurrencies, especially Bitcoin, are good investments. Cathie Wood, the founder of Ark Invest, has recently said again that the price of Bitcoin could reach $1 million by 2030.

ARK Invest is buying shares of Coinbase, Tesla, and other companies that are showing signs of recovery because it thinks the global market will get better. Ark Invest bought 74,792 Coinbase (COIN) shares and 99,523 Tesla (TSLA) shares on January 11.

This is the fourth time since the beginning of the year that Ark Invest has bought shares of Coinbase. So, the company has added a total of 280,824 shares of Coinbase, 108,548 of which went to the ARKK fund. As was already said, Ark Invest bought 628,164 Coinbase shares in 10 separate transactions in December.

Cathie Wood’s company

Also, since the beginning of the year, Cathie Wood’s company, ARK Invest, has bought 475,522 shares of Tesla. It gave the ARKK fund an extra 343,742 shares. In December, ARK Invest bought 254,992 Tesla shares in 13 separate deals.

See also  Cathie Wood Ark: Invest Buys Coinbase (COIN) And Tesla (TSLA) Shares

Coinbase (COIN) Shares

Shares of Coinbase (COIN) are trading at 43.79, which is a 26% increase in a week. On the other hand, Tesla (TSLA) shares closed on Wednesday at 123.22, up 12% in a week.

The crypto market has a good start to 2023

The crypto market’s rise in the last 24 hours is a good sign for the beginning of 2023. The price of Bitcoin (BTC) went up by 5%, and it is now worth $18,200. The price of Ethereum (ETH) rose by 7% and reached a high of $1,408.

Michael van de Poppe, a crypto analyst, said that the market will keep going up for the next three months. Traders are feeling better because the cryptocurrency market as a whole is getting better.

Source: Google Trend

By Vil Joe

A writer and editor based out of San Francisco, Vil has worked for The Wirecutter, PCWorld, MaximumPC and TechHive. Her work has also appeared on InfoWorld, MacWorld, Details, Apartment Therapy and Broke-Ass Stuart. In her spare time, she takes too many pictures of her cats, watches too much CSI and obsesses over her bullet journal.

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