Cathie Wood voorspelt Bitcoin op $1M, is bullish op Coinbase Stock

• Cathie Wood said that the price of Coinbase stock will get a boost after the SEC’s lawsuit against Binance. 
• Wood legde uit dat de rechtszaken tegen Binance en Coinbase totaal verschillend zijn. 
• ARK’s current trading position for COIN is $1.77 billion, with an average entry price of $272.75 to $282.93.
• Wood said that she sees Bitcoin as “a hedge against inflation” while predicting that it will reach $1 million soon.

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Cathie Wood, the founder, CEO, and CIO of Ark Invest, a popular investment management firm based in Florida, has predicted the price of Bitcoin (BTC), the world’s largest cryptocurrency, to reach $1 million in the near future, and in a recent interview, she also explained why she is bullish on Coinbase stock. 

Volgens een rapport van Bloomberg, verklaarde Cathie Wood dat haar vlaggenschipfonds, Ark Innovation (ARKK), zijn zak vult met de aandelen van Coinbase (COIN) ondanks dat de Amerikaanse effectenregulator, de Securities and Exchange Commission (SEC), een rechtszaak heeft aangespannen tegen de crypto-uitwisseling . Dit komt omdat de SEC ook Binance heeft aangeklaagd, de grootste concurrent van Coinbase, wat de grootste bedreiging vormt.

ARKK kocht op 6 juni bijna 330.000 aandelen ter waarde van $17 miljoen van de in de VS gevestigde cryptobeurs, gevolgd door twee andere exchange-traded funds (ETF's), Ark Fintech Innovation ETF en Ark Next Generation Internet, die 35.700 aandelen kochten (ter waarde van $1. 8 miljoen) en 53.900 aandelen (ter waarde van respectievelijk $2,8 miljoen).

ARK’s current trading position for the COIN stock amounts to $1.77 billion, with the average entry price being $272.75 to $282.93. It is crucial to note that the funds are heavily down on their investments in the crypto exchange. Wood clarified that there is a huge difference between the lawsuits filed against Binance and Coinbase and believes that the latter will win against the SEC’s accusations. 

The SEC alleges that Binance, Binance.US, and CEO Changpeng Zhao, or CZ, violated the Commodity Exchange Act along with several regulations of the Commodity Futures Trading Commission. Wood claims that these types of allegations “have nothing to do with Coinbase,” hinting that the exchange’s business is secure in the US. 

In the interview, Wood further stated that she sees Bitcoin as “a hedge against inflation,” while adding that the leading cryptocurrency will soon reach the $1 million price tag. As per an earlier report from Bitnation, Cathie Wood recently confirmed that her firm purchased $19.9 million worth of Block shares as well. 

305.573 extra aandelen van Block werden overgenomen door ARK Invest over zes transacties tussen 7 en 8 juni, making it the firm’s fourth largest position at 4.81%, while Coinbase is the seventh-largest position at 4.49%.

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