Huh? I thought the ongoing consensus was a whopping $1 million. Just when did it go up to $2.3 million? (BTW what's with the 0.3??) Cathie Wood’s Ark Invest Continues Crypto Buying Spree with ARKB Units Purchase Feb. 3rd, 2024 coingape.com https://coingape.com/cathie-wood-ark-invest-double-down-bitcoin-arkb-tesla-robinhood/ Ark Invest's Cathie Wood buys millions in crypto shares and predicts a surge to $2.3 million in Bitcoin, as Tesla and Robinhood shares soar. Cathie Wood’s investment management firm Ark Invest is on a buying spree for crypto-related shares including its Ark 21Shares spot Bitcoin ETF (ARKB). ARK Next Generation Internet ETF (ARKW) purchased 1.27 million ARKB units worth $51 million last week. Cathie Wood’s Ark Invest Bought ARKB Units Cathie Wood’s ARK Next Generation Internet ETF (ARKW) continued its purchase of Ark 21Shares spot Bitcoin ETF (ARKB) this week. However, ARKW didn’t purge ProShares Bitcoin Strategy ETF (BITO) to buy ARKB this week amid a number of earning announcements this week. ARKW purchased 58,468 units of ARKB worth $2.5 million on January 29. ARK Innovation ETF (ARKK) and ARKW funds also purchased Tesla shares worth millions. ARKK has over $600 million worth of Tesla (TSLA) shares. ARK Next Generation Internet ETF holds 2,480,644 ARKB shares worth $106,816,530, as per holdings data by ARK Invest. The funds also reduced its ProShares Bitcoin Strategy ETF (BITO) to 285,167 shares valued at $5.81 million. It will likely hold on to the remaining BITO holdings. As per Ark Invest data, ARKB has 15,890 bitcoin with a market value of $684.18 million until February 2. ARK Buying Robinhood and Tesla Ark Invest funds ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW) continue to accumulate Robinhood Markets (HOOD) and Tesla (TSLA) shares worth millions this week. On Feb 2, ARKK purchased 39,572 HOOD shares and 87,721 TSLA shares. ARKW bought 8,354 HOOD shares and 27,090 TSLA shares. TSLA price closed 0.70% lower at $187.91 on Saturday. Whereas, HOOD price closed 0.09% higher at $10.92. Ark Invest has increased its Bitcoin allocation in 2023 to 19.4% from 6.2% in 2022, emphasizing effectiveness in diversifying and balancing traditional assets. Bitcoin has played a crucial role in maximizing risk-adjusted returns. Coinbase and Robinhood are about to release quarterly results for the period ending December 31, 2023. Robinhood Markets to release earnings on Feb 13, with expected revenue of $452.8 million. In addition, Coinbase’s earnings is due on February 15, with expected revenue of $811.50 million. Concurrently, Cathie Wood has thrown a bombshell on Bitcoin claiming that it could go up to $2.3 million per coin. The forecast is based on the what-if situation in which global investible assets valued at $250 trillion are matched to a 19.4% Bitcoin allocation as per the recommendations given in Ark Invest’s Big Ideas report for 2024. Although this forecast is very optimistic it reflects Wood’s confidence in value proposition of Bitcoin and its use in future investment portfolios. Also Read: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. A Labs project from your friends at
Cathie Wood is crazy. She's a bull but she's right on the same page as Micheal Sailor. And half these people that make these crazy predictions will tell you more than they think it's going to go so they can unload their bags. Why would anyone tell the news their selling point? However, it's good to hear a 2M price prediction instead of 1M.
After you bought it, you would probably tell the whole world BTC will go to $1m and beyond. After you shorted it, you would probably tell the whole world BTC will go to 4 digits, 3 digits, 2 digits and beyond.
"Ark Invest's Cathie Wood buys millions in crypto shares and predicts a surge to $2.3 million in Bitcoin, as Tesla and Robinhood shares soar." LOL sez all about the veracity of writer
If it goes to 2 million then we are going into hyperinflation and everything else is going higher too.
NDX hits record high after record so far this year meanwhile ARKK is down almost -4%. hehe It is said, as January goes so goes the year.
Well, if you zoom in close enough, you could make the crash of '87 look like a soar. But... let's step back for a bit...
Bitcoin will go up forever, $1M is only for short term target, before 2030, after that, $5M, then after that $10M, then after that...
Here is the thing about these long term projections. New cash or cash-like alternatives that come along, such as Bitcoin, show others that they can possibly come up with other new alternatives. Sure Ether etc have tried but not had anywhere the adoption and price appreciation of the BTC the original. But for price to keep going higher and higher demand has to continue going higher and higher because we know that supply is limited so no issue there. So IMO there is no real tangible way to know what demand might be a year, 5 years, 10 years from now therefore in turn the price at those junctures. Especially if one is realistic that other new alternatives are likely to come along too.