COIN

Bitcoin

Elon Musk

<html>
 <head></head>
 <body>
 <ul> 
 <li>Cathie Wood’s ARK Invest has made a significant sale of Coinbase shares.</li> 
 <li>The sales and other headwinds have stirred concerns about the future of the price performance of Bitcoin.</li> 
 </ul> 
 Cathie Wood’s ARK Invest has made headlines again with its decision to sell $26 million worth of <a href="https://www.crypto-news-flash.com/jpmorgan-chase-strategist-predicts-imminent-150-billion-stock-sell-off-bitcoin-price-holds-steady/" target="_blank" rel="noopener noreferrer nofollow">Coinbase shares</a> (COIN). This move has garnered attention and raised questions among investors, especially considering Coinbase’s stock price has reportedly recently soared to $105.55, just under its one-year high of $107. 
 <h3 id="b-ark-invest-s-decision-to-sell-coinbase-shares-b">ARK Invest’s Decision to Sell Coinbase Shares</h3> 
 ARK Invest made waves in the first half of 2023 with its consistent and significant investment in Coinbase. The purchase of Coinbase shares was viewed as a <a href="https://www.crypto-news-flash.com/cathie-wood-doubles-down-on-coinbase-and-predicts-bitcoin-to-hit-1-million/" target="_blank" rel="noopener noreferrer nofollow">bullish move</a>, indicating Wood’s belief in the industry’s long-term potential. 
 However, recent <a href="https://www.coindesk.com/markets/2023/07/18/wood-says-ark-is-taking-profits-as-it-sells-26-million-in-coin/" target="_blank" rel="noopener noreferrer nofollow">reports</a> indicate that ARK Invest has sold 248,838 COIN, worth just over $26 million. This latest sale adds to a series of recent divestments by the asset manager in Coinbase. On July 14, the firm disclosed the sale of 480,000 COIN shares across three funds, totaling $50.5 million based on that day’s closing prices. Additionally, in the previous week, ARK Invest sold $12 million worth of Coinbase shares as the stock experienced a rally. 
 In a recent interview on Bloomberg Daybreak Asia, Wood expressed her positive outlook on Coinbase, citing the recent court ruling in favor of Ripple against the US Securities and Exchange Commission (SEC). 
 Wood stated, “We’re very positive about Coinbase, especially in light of the court ruling for Ripple against the SEC.” This comment suggests that the veteran investor sees potential benefits for Coinbase in the wake of the Ripple-SEC <a href="https://www.crypto-news-flash.com/the-ripple-vs-sec-aftermath-what-to-expect-after-court-ruling-xrp-is-not-a-security/" target="_blank" rel="noopener noreferrer nofollow">lawsuit outcome</a>. 
 Regarding ARK Invest’s sale of Coinbase shares, Wood clarified that the decision was driven by profit-taking and a reallocation of capital. She stated that the company is “…simply taking profits and reallocating the capital to some laggards.” 
 This indicates that ARK Invest is capitalizing on the gains made from its investment in Coinbase and strategically reinvesting those funds in other investment opportunities that may have underperformed or have greater growth potential in the mid to long term. 
 In related news, Wood mentioned that ARK Invest had written down its stake in Twitter by 47 percent since Elon Musk took the social media platform private last year. This statement highlights the impact of significant events, such as corporate buyouts or changes in leadership, on ARK Invest’s investment decisions and portfolio valuations. 
 <h3 id="b-is-a-bitcoin-dump-to-25-000-around-the-corner-b">Is a Bitcoin Dump to $25,000 Around the Corner?</h3> 
 With the Ark Invest dump-off, many are expressing concerns about the outlook of Bitcoin. According to current data, <a href="https://www.crypto-news-flash.com/what-is-bitcoin-a-beginners-guide-to-the-worlds-popular-type-of-cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC), the world’s largest cryptocurrency is trading at $29,865.01 and has experienced a 1.38 percent surge in the past 24 hours.&nbsp; While concerns about a potential Bitcoin dump to $25,000 exist, making accurate predictions about the crypto price movements is challenging. 
 However, many market analysts believe that Bitcoin will experience periodic declines below this level until the SEC decides whether to approve spot Bitcoin ETF applications presented by financial giants such as BlackRock. 
 Notably, the submission of these petitions in June contributed to a substantial surge in BTC and other cryptocurrencies as speculators sought a potential price catalyst.
 </body>
</html>

Cathie Wood’s ARK Invest Sells $26 Million Worth of Coinbase Shares Amid High Performance – Is a Bitcoin Dump to $25,000 Around the Corner?

目次

Crypto News Flash

2023年7月18日公開の他の記事

PLAY Wallet Updated

PlanB Predicted How Many Dollars Will Be in BTC During Bitcoin Halving!

Bitgert to Develop P2P Exchange Following 76% Community Voting Approval

Why Is The Bitcoin Price Falling? Under $30,000 Seen!

Tromero Seizes the Day, Raises £1.5m to Blend Crypto Mining with AI Training

Last Chance! Seize the Final Presale of MOOKY Before it Rockets Off on Uniswap on July 24

ニュースレターを購読して暗号資産の最新情報を毎日入手！