Cathie Wood Buys Nearly $24 Million Worth of Coinbase and Tesla Shares

The Founder and CEO of Ark Make investments – Cathie Wooden – bought 297,000 shares of Coinbase for about $11.9 million. 

She additionally purchased 75,000 shares of Tesla Inc.

• Regardless of the unstable situation of the crypto sector and the growing negativity in the direction of centralized exchanges, Wooden spent virtually $12 million to accumulate 297,000 COIN shares.
• The shares not too long ago plunged to an all-time low of $38.7, presently hovering round $40.
• Cathie Wooden is a eager proponent of the cryptocurrency sector, and the corporate she leads – Ark Make investments – has bought Coinbase shares quite a few occasions.
• The asset administration now owns 5.7 million shares of Coinbase.
• The cryptocurrency alternate grew to become the primary high-profile enterprise within the business to be publicly listed for buying and selling on Nasdaq final yr.
• At first, COIN shares traded at round $400, however the hype regularly vaporized within the following months. The continuing bear market has additionally taken its toll, and the shares are presently 90% down in comparison with their peak.
• In addition to being a crypto supporter, Wooden appears to have excessive hopes for Tesla, too, shopping for 75,000 shares of the EV large.
• TSLA shares have additionally tumbled considerably not too long ago, buying and selling at round $156 (on the time of writing these strains), which means the funding value $11.7 million.