Cathie Wood, founder and CEO of ARK Investment Management and a keen investor in Bitcoin, has recently spoken out about the recent dip in Bitcoin’s price, calling it a “false alarm” and saying she is “cautiously confident” about its value. In a blog post on her personal blog, she says: “So now what? Like any good investor, we’re sticking with the long game. I’m investing in Bitcoin because I’ve seen it go up over the last two years, and I’m not going to miss out on the next big thing.”
In recent months, there has been a lot of financial news about cryptocurrencies. It has been a tough year, with Bitcoin’s value dipping, and investors suffering losses. A recent report from Cathie Wood’s ARK Fund stated the fund has doubled its Bitcoin holdings from 518 BTC to 1,610 BTC in the past month.
This week the price of Bitcoin has taken a slight dip, with the price hitting a low of $9,900 in the early hours of the morning. Since the end of 2017, the price of Bitcoin has been on a steady rise, with the price hitting a high of almost $20,000 at the end of December. Since then, this has plunged. Since the beginning of the year, the price of Bitcoin has fallen from near $20,000 to the current price of around $9,900, including dips below the $8,000 mark. This has prompted some to question whether the price will continue to fall or if it could take a slight upturn.. Read more about grayscale bitcoin trust and let us know what you think.
ARK Next Generation Internet ETF bought 1,046,002 shares of Grayscale Bitcoin Trust stock on Tuesday, according to the company’s daily report.
The $5.8 billion ARK Next Generation Internet ETF (ticker: ARKW), managed by top fund manager Katie Wood, is one of the ETFs with the most bitcoins in its portfolio.
Weighted share of CRA funds in GBA
Bitcoin exchange Coinbase Global holds a 3.3% stake, or $189 million in shares, in the ETF (COIN). The ARK Next Generation Internet ETF is up 4.6% in the same period, with a gain of 1.7% on Tuesday alone.
The Grayscale fund, which was already trading at a discount to the price of bitcoin, did not lose as much as the value of the cryptocurrency. As of Wednesday, the fund has a GBTC weight of 4.57. The trust’s shares are the third-largest holding in the ARK Next Generation Internet ETF (behind Square and Tesla).
Wood said the recent correction has increased the chances of an exchange-traded bitcoin fund being approved by the US Securities and Exchange Commission.
Because such a product is less likely to be approved when prices are highest, it is regulated by the Securities and Exchange Commission. Meanwhile, ARK Innovation ETF bought 214,718 shares of Coinbase, the country’s largest bitcoin exchange.
Bitcoin price list
Bitcoin is the number one market for crypto-currencies. The current price of the national currency is $34,020.99 with a variation of 7.98%. At the time of writing, the market value is $636,610,302,965 and the trading volume in the last 24 hours is $62,417,709,839. The total and maximum tradable bid amounts to 18,741,043.00 BTC, 18,741,043 and 21,000,000 BTC respectively.
Katie Wood thinks a major correction could accelerate the adoption of bitcoin ETFs and predicted bitcoin will hit $50,000.Another week goes by and the Bitcoin price is back below the $3,000 mark. It has been a roller coaster ride for the last 2 years, ever since the infamous Bitcoin bubble popped in early 2017, and now we’re back to around $3,000. I would like to use this post to comment on the recent dip, Cathie Wood’s ARK Fund has increased its Bitcoin holdings for the second week in a row, and the ARK Team is excited to see the market rebound. When you first start investing in cryptocurrencies, it may be hard to figure out what to invest in, and how to invest. Most people know that they can buy Bitcoin, Ethereum, and Litecoin from an exchange, but at the end. Read more about cathie wood net worth and let us know what you think.
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