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Ark Invest Shifts Strategy: Acquires More Coinbase Shares, Halts Bitcoin Sales
In a surprising move, Ark Invest has announced it is halting all Bitcoin sales and increasing its stake in Coinbase (COIN) shares. This significant shift in strategy raises questions about the firm’s outlook on the cryptocurrency market.
As of March 12, 2025, Ark Invest has stopped selling any Bitcoin during its portfolio adjustments. Instead, the company has focused on expanding its position in Coinbase, with a $11.53 million purchase of additional shares. The move is seen as a vote of confidence in Coinbase’s long-term viability as a key player in the crypto sector.
This development comes as Ark Invest reiterates its commitment to digital assets and maintains its bullish stance on Bitcoin. Despite the market’s recent volatility, Cathie Wood, Ark Invest’s CEO, remains optimistic about the cryptocurrency’s potential, reaffirming her previous $1 million price prediction for 2030.
The approval of spot Bitcoin ETFs in the United States has opened up new opportunities for institutional investors to participate in the crypto market. This trend is expected to drive demand for Bitcoin and bolster the asset’s value.
