Cathie Wood’s ARK Is Going Full Crypto
Wall Street is normally a very masculine world with male CEO’s trying to outsmart each other, think Jamie Dimon over at JP Morgan or Lloyd Blankfein at Goldman Sachs. In 2020 the leading role on Wall Street was for a woman though, by the name of Cathie Wood.
Her ARK Investment fund was the big winner of the pandemic year and so in 2021 everyone is eyeing what she’ll buy next. In the beginning of the year we even told you about the link between Bitcoin, ARK and Tesla.
Last week, Ms Wood made another very bullish bet, when the three Exchange-Traded Funds offered by her company Ark Invest (including the flagship Ark Innovation ETF) all added massive blocks of shares in Coinbase to their positions.
In all, ARK bought over a million shares in Coinbase, and added it to her position which is highly focused on tech and cryptocurrency exchanges. With this latest move, it looks like ARK is going full crypto.
During a press round, Ms Wood explained that she’s bullish on Coinbase, because she sees the trading exchange of CEO Brian Armstrong as the big winner in the rapidly growing business of buying and selling Bitcoin, Ethereum and other cryptocurrencies.
Furthermore, Cathy Wood had previously declared that she is convinced Bitcoin will one day rival gold. Her exact words were that the future total market capitalization will one day comfortably eclipse that of gold and exceed $10 trillion.
We cannot wait to see how Peter Schiff will react to that one.