2024

Bitcoin

In a recent interview with Yahoo Finance, Cathie Wood, CEO and CIO of Ark Invest, shared her views on cryptocurrency markets, Coinbase's performance, and the launch of Ark Invest's Bitcoin ETF.
Wood, a prominent BTC proponent, expressed his positive views on Coinbase's performance, stating that the trading platform is “functioning perfectly.”
Coinbase, a leading cryptocurrency exchange, had witnessed a surge in its shares after it announced that its fourth-quarter revenue beat estimates. Wood, who owns approximately 5 million Coinbase shares in Ark Invest's largest fund, ARK Innovation ETF, evaluated the factors that contributed to Coinbase's success.
Wood attributed Coinbase's success to its regulatory compliance, which positions the company as the most competitive exchange on the market. He noted the impact of regulatory issues faced by rivals such as FTX and Binance, which have increased Coinbase's market share. Wood also emphasized the company's profitability and its strong performance amid market fluctuations.
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Regarding Coinbase's ongoing battle with the Securities and Exchange Commission (SEC) over the regulation of exchange-traded securities, Wood expressed confidence that the company can succeed based on recent legal precedents, specifically citing Ripple's victory.
Although Ark Invest holds a significant stake in Coinbase, Wood said the firm reduced its position due to significant appreciation in Coinbase's stock price.
Expanding the discussion to the broader cryptocurrency landscape, Wood talked about Ark Invest's 2024 report focusing on investable themes like Bitcoin allocation. He highlighted Bitcoin's evolving role as both a risk-on and flight-to-quality asset, noting its potential appeal to institutional investors seeking diversification.
Wood also touched on the success of Ark Invest's spot Bitcoin ETF, ARK 21, which has amassed over $1 billion in assets in a short time. Wood attributed this success to Ark Invest's extensive research on Bitcoin and the efficiency of its operations and infrastructure.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/cathie-wood-makes-remarks-on-bitcoin-and-coinbase/" rel="noopener noreferrer nofollow">Cathie Wood Makes Remarks on Bitcoin and Coinbase</a>

Cathie Wood Makes Remarks on Bitcoin and Coinbase

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