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Over the last week of 2023, Cathie Wood & ARK Invest did something shocking.
They sold off their entire Bitcoin position, which they were holding in the Grayscale Bitcoin trust.
This was well over $100 million dollars worth of exposure to Bitcoin.
For ARK Invest & Cathie Wood, this seems insane, as they have been Bitcoin’s biggest advocate, with price targets in 2030 of 1.4 Million dollars.
So why would they sell?It all comes down to the coming Bitcoin ETFs. B
loomberg Analyst Eric Balcunhaus believes Cathie Wood sold off their Bitcoin in preparation for the approval of a spot Bitcoin ETF.
ARK Invest have a pending application, so it’s believed they are going to use the money they had in the Grayscale trust, to SEED the first investment in their own Bitcoin ETF.
By doing this, they will hopefully attract more investors into their specific ETF.
In Cathie’s latest interview, she breaks down why she ended up selling & also gives her outlook for Bitcoin in 2024.
Make sure to stick around to the end of the video where she explains why ARK Invest is expecting to see Deflation over the course of 2024, which will be extremely bullish for Innovation & Crypto in general.
About Cathie Wood:
Catherine Duddy Wood is an American investor and the founder, CEO and CIO of Ark Invest, an investment management firm.
CREDITS:
To watch the full un-edited interview featured (and subscribe to a great finance resource!) check out:
ARK Invest
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Cathie Wood Reveals Why She SOLD Off Her Entire Bitcoin Holdings – Bitcoin ETF (2024)
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Thinking BTC will hit 40k, so I'm selling my other altcoins and going all-in on BTC and Staxum, with a bit of BNB on the side.
Rumor has it, Staxum and Shopify might join forces! If true, we're in for a moonshot! 🌕
Staxum will moon with Ebay partnership! Easy 50x, let's go!
A lot of predictions for 2024, but I'll keep holding BTC and buy some Staxum since it's looking promissing
E-commerce tokens ablaze, and Staxum poised to surge 50x post-launch.
ETH has its merits, but Staxum's growth potential is alluring. Made the switch and feeling optimistic!
Last chance to jump into Staxum, don't miss it this year…
The potential Staxum and eBay partnership has me optimistic about a smooth 50x
Staxum and Ebay – a powerhouse partnership. Ready for the ride
Thinking BTC will hit 40k, so I'm selling my other altcoins and going all-in on BTC and Staxum, with a bit of BNB on the side.
Rumor has it, Staxum and Shopify might join forces! If true, we're in for a moonshot! 🌕
Staxum will moon with Ebay partnership! Easy 50x, let's go!
yea, last time kathie sold tesla they pumped xD lets go BTC!!!!!
I believe everything she said is so right. She can say whatever she wants to say. She can be bullish last minute then bearish asf now. It's all up to her. You have no right to call people fudder since you never thank her when she pumped the eth to help many of you exit. You guys deverved to get fled. Enjoy money laundering.
she sold because she knows that BTC is not the real bitcoin haha!!
Sold because of this week's rug pull
Should move into LTC instead; because it is faster; cheaper and has 100% run time. The big boy target is $1,000 on the low end for EoY 2024 😎🦅
Clickbait, so much bullshit on this channel. Unsubbed
Blablabla
It’s strange how people talk about all the profits, they have been making through trading of crypto, while am here making huge losses. Please can someone put me through on the right path or at least advise me on what strategy to follow.
Wheres the evidence that they sold?
With the ETF approved, institutions will need to buy Bitcoin for their ETF. There will be marked increase in demand, can i get in and still make profits? i have set aside $250k to get fully invested this year
Is there an exchange that is stealing Money from its Clients ? YES , The Poloniex Exchange, It is the Most Corrupt exchange there is on the Internet ! They just tried to get my 12 word Phrase to my coinbase wallet . So they could steal the rest of my crypto !
With the ETF approved, institutions will need to buy Bitcoin for their ETF. There will be marked increase in demand, can i get in and still make profits? i have set aside $250k to get fully invested this year
She sold because she got insider news from grayscale and some others
Is this real? Usually see vids of her predicting BTC value going into the millions.