Ark Invest, Led by Cathie Wood, Acquires Block Inc (SQ) Shares Following Coinbase (COIN) Investment of Over $21 Million
Renowned crypto enthusiast Cathie Wood's investment firm, Ark Invest, continues to make strategic moves in the market. Just a day after acquiring shares in Coinbase (COIN) valued at over $21 million, Ark Invest has now purchased millions of shares in Jack Dorsey's payment firm, Block Inc (SQ).
In her unwavering bullish stance, Cathie Wood reiterates her optimistic target of $1 million for Bitcoin's price. She further emphasizes that despite the legal challenges faced by both Binance and Coinbase, there are distinct differences between their cases. Wood believes that the regulatory hurdles currently confronting Binance could ultimately prove advantageous for Coinbase.
According to CoinGape's recent report, Ark Invest has disclosed its acquisition of 227,365 shares of Block Inc, amounting to a total of $15 million. This strategic move by Ark Invest reflects Cathie Wood's optimistic outlook on the stock price recovery of Block Inc.
Furthermore, Ark Invest has strengthened its investment in Square Inc. by acquiring 177,985 shares for its ARK Innovation ETF (ARKK) and an additional 29,442 shares for the ARK Next Generation Internet ETF. This strategic move solidifies Ark Invest's position in Square Inc.
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