Cathie Wood’s Ark Invest buys coin from Coinbase worth $ 9.2 million in the middle of price declines

Cathie Wood’s Ark Invest buys coin from Coinbase worth $ 9.2 million in the middle of price declines

Cathie Wood, founder and CEO of ARK Invest, is still optimistic about Coinbase, whose share price compared to his all-time high of $ 348.98 on November 12, 2021.

ARK Invest made the third investment in two months and fourth since November and acquired coin shares worth $ 9.2 million on Friday, as media reports claimed.

According to a Bloomberg report from three months ago, Ark Invest earned Coinbase shares worth $ 56 million in November 2022.

Coin purchases from ARK Invest

In the last round, the investment company bought 162,325 Coin shares. In the previous two, on January 5 and 12, the company collected Coinbase shares worth $ 5.8 million or $ 3.3 million. In December it bought Coin worth $ 11.9 million.

on January 5, the day on which ARK Invest made his first big purchase of coin shares this year, the share closed the day with a minus of 11 % at $ 33.53, while the next day, January 6th, it reached an all-time low of $ 31.95, which would have shown on ARK. can not be better. The purchase of coin stocks on January 12 was at a price of $ 43.79 per share, and it came at a time when all the important crypto assets were under the leadership of BTC on a recreation path.

Anfang dieses Monats hat ARK Invest made A BTC prize forecast for 2030, which set the old stock at $ 258,500, $ 682,800 and $ 1.48 million for the bear market, base interest and bull market scenarios.

octopus fears to pull down Coin

After an increase to $ 81 on February 2, almost 95 % in a month, the coin base shares are again in a downward spiral, especially after the SEC's hard procedure, because it offered "non-registered securities" in the form of staking services.

Coinbase is an important player for staking services, and last week his CEO, Brain Armstrong, and other managers emphasize that the products are not securities. With a decline of 14.13 %, Coin closed on Thursday, the day on which octopuses announced the closure of his staking services for US investors, at $ 59.63 after it started at 68.51 %. It closed the week with a minus of around 22 %.

Effects of the downturn on Coinbase

Due to the onset of market, Coinbase has reduced its number of employees by over 2,000 since June 2022. The first round of discharge took place in June when 18 % or 1,100 employees were released, while 20 % or 950 employees were released on January 10.

On January 26, De Nederlandsche Bank (DNB), the Central Bank of the Netherlands, reported a fine of $ 3.6 million against Coinbase because the company had not registered its services in the country between November 2020 and August 2022.

With a price of $ 250, the shares of Coinbase were noted on Nasdaq on April 14, 2021. Coin made a win of over 31 % and closed the opening day at over $ 328. At the moment, the shares are traded under their all -time high of $ 348.98.

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