{"id":17589,"date":"2023-02-13T18:40:51","date_gmt":"2023-02-13T18:40:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cathie-wood-spends-another-9-20-million-on-coinbase-stock\/"},"modified":"2023-02-13T18:40:51","modified_gmt":"2023-02-13T18:40:51","slug":"cathie-wood-spends-another-9-20-million-on-coinbase-stock","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cathie-wood-spends-another-9-20-million-on-coinbase-stock\/","title":{"rendered":"Cathie Wood spends another $9.20 million on Coinbase stock"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/143910125_m-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/143910125_m-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/143910125_m-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/143910125_m-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Cathie Wood bought 162,325 shares of Coinbase Global Inc on Friday.<\/li>\n<li>Her stake in the crypto exchange is now worth more than $18 billion.<\/li>\n<li>Coinbase stock has already rallied about 70% since the start of 2023.<\/li>\n<\/ul>\n<p>Shares of Coinbase Global Inc have already rallied about 70% this year but Cathie Wood remains convinced they\u2019re not out of room to run just yet.<\/p>\n<h2>How many shares of Coinbase did she buy?<\/h2>\n<p>That\u2019s based on a rather massive sum of money she recently spent on buying Coinbase stock.<\/p>\n<p>The famed investor took about a month-long break from investing in the crypto exchange. On Friday, though, she returned and bought 162,325 shares of Coinbase.<\/p>\n<p>In total, the recent purchase was worth $9.20 million and was split between two of her funds; the flagship ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW).<\/p>\n<p>Interesting, Wood bought Coinbase stock ahead of the anticipated year-on-year weakness in its Q4 results. Next week, the Nasdaq-listed firm is <a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/coin\/earnings\" target=\"_blank\" rel=\"noopener\">expected to report<\/a> $2.39 a share of loss for its fourth financial quarter \u2013 well below $3.32 a share it \u201cearned\u201d a year ago.<\/p>\n<h2>SEC is getting more aggressive against crypto<\/h2>\n<p>Earlier in February, Cathie Wood reiterated her <a href=\"https:\/\/fortune.com\/2023\/02\/01\/cathie-wood-ark-invest-report-bitcoin-to-hit-1-5-million-by-2030\/\" target=\"_blank\" rel=\"noopener\">super bullish view<\/a> on Bitcoin, which, she said, will eventually be worth $500,000.<\/p>\n<p>She\u2019s keeping optimistic despite a more aggressive Securities and Exchange Commission (SEC) that recently pushed Kraken into terminating its <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/02\/09\/us-securities-and-exchange-commission-sues-kraken-over-crypto-staking-services\/\" target=\"_blank\" rel=\"noopener\">crypto-staking operations<\/a> in the U.S. It\u2019s worth noting that Coinbase offers similar services to its U.S. clients as well.<\/p>\n<p>On Monday, the regulator <a href=\"https:\/\/cointelegraph.com\/news\/paxos-ordered-to-stop-issuing-binance-usd-report\" target=\"_blank\" rel=\"noopener\">ordered<\/a> Paxos Trust to stop issuing Binance USD as well. Nonetheless, across all eight of her funds, Wood now owns more than $18 billion worth of Coinbase Global Inc. The crypto company accounts for 3.88% of her total holdings.<\/p>\n<p>Wall Street currently has a consensus \u201chold\u201d rating on Coinbase stock.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/cathie-wood-9-20-million-buy-coinbase-stock\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Cathie Wood bought 162,325 shares of Coinbase Global Inc on Friday. Her stake in the crypto exchange is now worth more than $18 billion. Coinbase stock has already rallied about 70% since the start of 2023. Shares of Coinbase Global Inc have already [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":17590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17589"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17589"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17590"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}