Cathie Wood Is Buying Coinbase and Circle Stock as the Sell-Off Ramps Up Ahead of the Clarity Act Vote. Here's the Bet.
Yahoo Finance ·
Ark Invest CEO Cathie Wood has long been a crypto bull. In the company's 2025 Big Ideas report, Ark Invest said its 2030 base-case price target for Bitcoin ( BTC +0.50% ) is $700,000, with a bull case of $1.5 million. Although Bitcoin and other cryptocurrencies have been crushed this year, Wood and Ark don't seem to be giving up yet, as they typically take a long view of what they believe are groundbreaking technologies. Ahead of a big potential U.S. Senate vote on the Clarity Act , Ark has been buying cryptocurrency names such as Coinbase Global ( COIN +0.40% ) and Circle Internet Group . Here's the bet. At the very end of June, disclosures from Ark Invest showed that its ARK Innovation ETF purchased 66,754 shares of Circle and 37,153 shares of Coinbase.
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