In the shadowy corridors of financial ambition, where the specter of despair looms large over the crypto realm, Cathie Wood’s Ark Invest, with a fervor akin to a gambler at a roulette table, has chosen to embrace the very essence of risk. They have, in a most audacious manner, acquired a staggering 64,358 shares of Coinbase, a sum that amounts to a princely $13,994,646, as reported by the ever-watchful Investing.com. Ah, the irony! Investing in a sinking ship while the waves of the market crash mercilessly against its hull! 🚢💔
Indeed, Ark Invest has been on a veritable shopping spree, amassing a total of $28.2 million in Coinbase shares over the past three weeks. One might wonder if they are driven by a profound belief in the resurrection of the crypto phoenix or merely intoxicated by the thrill of the chase. The flagship ARKK fund now holds Coinbase as its third-largest asset, while the ARKF fund, in a fit of enthusiasm, ranks it as its second-largest. Such is the nature of investment—an unpredictable dance with fate! 💃🕺
Let us not forget the curious episode of February, when ARK Invest, in a moment of reckless abandon, purchased 41,032 shares of Coinbase for a sum of $9.3 million, all while the tech stocks and Bitcoin (BTC) were plummeting like a lead balloon. This bold maneuver came just two months after they had divested themselves of $4.3 million in Coinbase shares, a decision that must have left them pondering the fickle nature of fortune. 🎭
Cathie Wood, a modern-day oracle, had once proclaimed that Bitcoin could ascend to the lofty heights of $1 million by the year 2030, citing its fixed supply of 21 million coins as a beacon of hope. She pointed to the burgeoning institutional demand and the scarcity of Bitcoin as the twin pillars supporting its value. Yet, as the crypto stocks tumble—MicroStrategy down 16.7% and Marathon Digital down 16.3%—one cannot help but chuckle at the absurdity of it all. Bitcoin itself has slipped 7.6%, dragging the entire market into the abyss. 😂
As I pen these words, Coinbase finds itself trading at $179.23 per share in premarket trading, a modest rise of 3%. But in this world of financial folly, who can say what tomorrow holds? Perhaps a rise, perhaps a fall, or perhaps a dance with the devil himself! 💀
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2025-03-11 16:32