✨ What's the Latest with the Investment Titans?
posted 24 Oct 2023
The value of Bitcoin surged to $35,000, catapulting MicroStrategy's unrealized gains from its investments to an impressive $857 million in under a day.
Parallelly, ARK Invest, led by Cathy Wood, offloaded Coinbase shares (42,613 in number) and 100,739 shares of GBTC overnight, accumulating to a $5.8 million sale.
«It makes sense for ARK to sell GBTC now as the discount is getting lower and they have their own ETF filing pending.»
«If ARK is approved for a Spot Bitcoin ETF, they would likely put that ETF at the #1 holding in their fund and dump GBTC» — analytics say.
Parallelly, ARK Invest, led by Cathy Wood, offloaded Coinbase shares (42,613 in number) and 100,739 shares of GBTC overnight, accumulating to a $5.8 million sale.
«It makes sense for ARK to sell GBTC now as the discount is getting lower and they have their own ETF filing pending.»
«If ARK is approved for a Spot Bitcoin ETF, they would likely put that ETF at the #1 holding in their fund and dump GBTC» — analytics say.
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