Cathie Wood predicts end of bear market
Picture Credits: The Economic Times

ARK’s Cathie Wood Bought $100K Worth of Bitcoin Years Ago at $250 and Has Never Sold It

Showing up on Peter McCormack’s “What Bitcoin Podcasted,” ARK Venture The board Chief Cathie Wood said she bought $100,000 worth of bitcoin (BTC) when it was exchanging around $250 (which would propose at some point in 2015). She said she hasn’t sold any of that underlying speculation, meaning her ongoing benefit on that $100,000 bet would be around $7.6 million.


Cathie Wood, whose firm she helped to establish is centered around creative and troublesome ventures, expressed that while she had the option to make that individual bet on bitcoin, she was unable to do likewise in the ARK supports themselves as they were and are simply permitted to put resources into protections.


ARK in the long run had the option to get bitcoin openness through the Grayscale Bitcoin Trust (GBTC). The ARK Cutting edge Web Asset (ARKW) right now holds around 5.9 million portions of GBTC esteemed at generally $67.4 million.


Cathie Wood keeps on being bullish on bitcoin, and sees the Grayscale Trust – as of now selling at about a 35% markdown to net resource esteem – as exchanging at a “fire deal” cost given the opportunity that sooner or later it will be cleared to change over into a spot trade exchanged reserve (assuming controllers permit).


Grayscale is claimed by CoinDesk parent organization Computerized Money Gathering.