- Cathie Wood accumulated 75000 shares of Tesla and 297,000 shares of Coinbase.
- Her enthusiasm in collecting the shares shows her trust in the future growth of both cryptocurrencies and electric vehicles.
- Wood has previously collected $60 million in Bitcoin despite the decline in its price after the FTX fall.
Cathie Wood, the Chief Investment Officer (CIO) and the CEO of Ark Invest, an American Investment Management firm, accumulated many shares of Tesla Inc., the American multinational automotive company, and Coinbase Global Inc., the American crypto platform.
Specifically, Ark Invest added $3.2 million to the its existing shares of Coinbase. Currently the firm has 5.8 million COIN in its portfolio, with $228 million in its tech-focused ARK Innovation ETF (ARKK).
According to the report, the firm’s Ark Innovation ETF bought almost 75,000 shares of Tesla, the EV Maker. The company’s enthusiasm in investing and holding the shares accentuates Cathie Wood’s trust in electric vehicles and crypto as a future assets.
While tracing the flow of COIN prices over the past six months, it is evident that the coin moves through a bearish period, as the $90 in August has fallen to the current price of $40.19.
Wood has been buying large shares of various crypto coins even during the long crypto winter when the crypto community was hesitant to invest in the space.
In November, Wood amassed more than $60 million in bitcoins, despite the huge fall in its price after the collapse of the once-prominent crypto exchange FTX.
While addressing the community in Peter McCormack’s ‘What Bitcoin Did’ Podcast, Wood declared that she purchased $100.000 worth of bitcoins.
Additionally, Wood opined that despite the fluctuations in the price of bitcoin, she believes that the BTC would hit $1 million by 2030, commenting that bitcoin is overcoming the downfalls, like a rose.
Significantly, Wood’s tendency in gathering shares showed both positive and negative responses within the crypto community. While some described it as a way to “lose money”, there were some who hoped for a better return for Coinbase.