Cathie Wood’s ARK Invest Bought 139k Shares Amidst SEC Events

Cathie Wood’s ARK Invest makes the news as they buy more of COinbase’s shares amidst the SEC cracking down on crypto. Check out the latest reports about all this below.

According to the latest reports, it seems that Coinbase shares had hit a low of $31.55 in the past year.

As the online publication the Daily Hodl notes, COIN has since soared back and is trading at time of writing for $56.40, a more than 75% increase.

“The recent purchase comes as the SEC has taken a series of enforcement actions of late, including shuttering Kraken’s staking program for their clients,” the same notes revealed.

Wood is one of the more bullish Bitcoin (BTC) supporters.

It’s also important to note the fact that during a CNBC interview at the start of the month, Wood confirmed she remains confident in her prediction that BTC will increase by more than 2,000% within seven years.

“In fact, we’re a little higher than [$500,000] in our base case for the year 2030. And in our bull case, much higher…”

She continued and said the following:

“I think that starting with ’08-’09, which is when Bitcoin really debuted, and even more so, after the crypto fallout this past year, the collapse in many companies, this idea of transparency and decentralization is taking hold, and Bitcoin and Ethereum are the two best manifestations of that in the crypto world.”

Regarding the price of Bitcoin, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $21,148.

Robert Kiyosaki believes the Federal Reserve will be forced to print billions to prop up markets, this will expand the nation’s debt and eroding the value of the dollar.

He expects scarce assets like gold, silver and Bitcoin to explode in value by the start of 2025.