On March 2, Ark Invest bought a total of 36,492 shares.

After news of acquisition, on March 3, Ark Invest purchased 119,543 Coinbase shares.

After making significant acquisitions in February, Ark Invest, an investment management business managed by Cathie Wood, continued its purchasing binge in March, adding additional Coinbase shares to its portfolio. Having just released Base, an Ethereum Layer-2 blockchain, and having purchased One River Digital Asset Management, investors are looking favorably on Coinbase (COIN) shares.

When the price of Coinbase (COIN) dropped back down to around $58 on March 2, Ark Invest bought a total of 36,492 shares. It purchased 31,348 shares of Coinbase for the ARK Innovation ETF (ARKK) and 5,144 shares of Coinbase for the ARK Next Generation Internet ETF (ARKW), as per transactions.

Continues Optimistic Buying Spree

After Coinbase’s acquisition of One River Digital Asset Management on March 3, Ark Invest purchased 119,543 Coinbase (COIN) shares. For its ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKN), Cathie Wood’s Ark Invest bought 103,148 and 16,395 Coinbase shares, respectively (ARKW).

This follows a flurry of recent buying activity on Coinbase. In February, Ark Invest bought a total of 722,942 shares of Coinbase (COIN). After a dramatic improvement in January, Cathie Wood’s portfolio is on the upswing once again this month.

Cathie Wood previously restated her optimism for Bitcoin and Ethereum, claiming they are “on the right track.” Although she doesn’t plan to buy any Tesla (TSLA) stock in February, she’s optimistic about the company’s prospects for a recovery.

The price of Coinbase (COIN) shares rose by 8% this week, reaching a high of $66.69. On Friday, the cost of one coin (COIN) closed up 1.27 percent at $64.51. Meanwhile, during the after-market hours, the price of COIN has risen to $64.

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Filed under: Bitcoin - @ March 4, 2023 3:59 pm