ARKF’s CEO Cathie Wood’s Bitcoin Portfolio Reinvents the Bullish Outlook

The Coinbase stock holdings of ARK’s Fintech Innovation Fund (ARKF) have increased by 10,880 shares, or almost 8% of the fund’s, to $60.5 million. According to 13F filings with the Securities and Exchange Commission, this would be ARK’s first acquisition of Coinbase stock since June (SEC).

, the chief investment officer at ARK, stated in August that due to an SEC investigation into the cryptocurrency exchange, the fund has cut its holdings in Coinbase.

In summary, Wood and ARK are still very bullish on Coinbase and cryptocurrencies in general. According to 13F filings, ARK has 7.7 million shares of COIN and increased its holdings by about 2 million over the course of the previous year. ARK has purchased COIN at a total estimated average cost of $218.45.

The CEO is back to reinforce her bullish outlook on cryptocurrency despite the drop in the value of the digital asset since then. Wood recently said on dr peter mccormack dr peter mccormack Peter McCormack is a well-known British Bitcoin journalist and podcaster. Peter McCormack hosts the podcast What Bitcoin Did, a twice-weekly show in which he interviews experts in Bitcoin, blockchain, and cryptocurrencies. He writes on themes like freedom, human rights, censorship, and Bitcoin. He contributes "creativity" to "What Bitcoin Did," as well as a deep and lasting sense of curiosity, which has made his podcast one of the most popular in the Bitcoin community. According to his monthly financial reports, the podcast made over $77,000 last month and was downloaded over 400,000 times. Kraken and BitGo, two well-known bitcoin exchanges, sponsored the event. He has nearly 90,000 followers on Twitter. Things are improving. By 2018, he had grown to distrust the industry in which he worked for the third time. He claimed that digital marketing doesn't truly work in a smart essay on LinkedIn that foreshadowed his now-familiar confrontational tone. He told me that if you trace clicks from banner advertisements to conversions, they never pay for themselves. "However, if you go to a page with an ad and ignore it but still buy from that firm, the purchase will be attributed to that ad." As a result, if you visit thousands of websites, you're constructing a network of coincidences." He left advertising, fully motivated. His mother died in January 2017, and he took time off to grieve. That year, he made a quick fortune on bitcoin before losing nearly everything, but he was so intrigued by the technology that he started a podcast called "What Bitcoin Did." The podcast was informative and characterized by real inquiry, and it swiftly increased in popularity. EntrepreneurInvestorPodcastCrypto and Blockchain Expert “What Bitcoin Did” show that she bought $100,000 worth of bitcoin (BTC) at a $250 price and hasn’t sold any since. Her own BTC holdings are worth $7.6 million at the present market rate.

Wood has long backed Bitcoin

The CEO of ARK Invest predicts that in 2030, the price of bitcoin will reach $1 million. Wood has made the exact same prediction before, so this is not a first. Wood had made the exact same forecast earlier this year while speaking at the Bitcoin 2022 conference in Miami.

Wood has long backed bitcoin and the CEO had made the risky move and was one of the first public fund managers to openly promote the digital asset. Later, ARK Invest made various cryptocurrency-related investments, including purchasing shares of Coinbase, the first cryptocurrency exchange to go public, and having a stake in the Grayscale Bitcoin Trust (GBTC).