A wind of uncertainty is blowing through the markets, and cryptocurrency prices are struggling to regain momentum. But for Cathy Wood, the ecosystem is not at risk. In fact the CEO of Ark Invest has just bought shares of Coinbase and GBTC heavily, and she reiterates her optimistic forecast for the price of Bitcoin (BTC).
Sales are handled by Cathy Wood and Ark Invest
Doubt has dominated the ecosystem since the collapse of the FTX giant, and Binance CEO Changpeng Zhao seems happy to make his rivals look smaller. But he doesn’t seem to be afraid of Ark Invest CEO Cathy Wood. which this week reaffirms its confidence in the sector.
Ark Invest has just been bought almost a million shares of the Grayscale Bitcoin Trust (GBTC), even as the company attracted investor skepticism in the past few days. As Cathie’s Ark tracker shows, Ark Invest made two huge purchases in a row, on November 15th and November 21st.
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GBTC, which is supposed to track the price of Bitcoin (BTC), has been trading for a few days at a much lower price, and the price of BTC itself has suffered a significant drop. Ark Invest has therefore appropriated a large part of this investment tool at an unbeatable price.
It should also be noted, according to Bloomberg, Ark Invest also replenished with Coinbase shares. This is also a strong signal: the American exchange platform was affected by Grayscale collateral damage. She is indeed the BTC supporter of the GBTC, as she tried to create a particular community of skeptics.
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Bitcoin (BTC) to a million dollars by 2030?
Speaking to our colleagues at Bloomberg, Cathie Wood reiterated her very optimistic price forecast for Bitcoin. She considers the latter it will reach one million dollars by 2030. Furthermore, she believes that the current crisis in the ecosystem is not inevitable:
“Sometimes we have to face crises, first and foremost to see who survives. But also to test the infrastructure and theses. Let’s think again That bitcoin will do just fine.»
Wood notes that the period could delay the arrival of institutional investors, as we can already see with the GBTC. But according to her, the latter will “do their homework” and the crisis it will allow them to better understand the ecosysteme:
“I think they will then be more open to the idea of buying Bitcoin, and maybe ether, as a first intention.»
Rare optimism at the moment, which also emphasizes a point: the fundamentals of BTC are still present, and they have not been compromised. The great purge of centralized players is underway, and it will surely be an important milestone in the history of cryptocurrencies.
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Source: Cathie’s Ark, Bloomberg
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A journalist at Cryptoast, I fell into the cryptocurrencies pot a few years ago. I am passionate about the innovative technologies emerging from the blockchain and I like to find the crispest information to share with you.
Marine Debellor
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