Hedge fund supervisor Cathie Wooden has doubled down on shares of Coinbase (COIN) amid the tariff-induced inventory market crash.
In accordance with Cathiesark.com, Ark Make investments positioned three purchase orders for Coinbase inventory on April 4th, amounting to over $13 million, making COIN the second-largest holding in all its mixed exchange-traded funds (ETFs).
COIN is presently buying and selling at $161, about 54% down from its December 2024 excessive.
In a current video replace, Wooden says that she expects Bitcoin (BTC) to start outperforming gold within the coming months. In accordance with the investor, the BTC to gold ratio hasn’t damaged its long-term uptrend.
“Gold has had run in opposition to Bitcoin. Bitcoin did very nicely relative to gold in 2023 and 2024, however not so this 12 months. Nonetheless, we do suppose over time, Bitcoin will admire relative to gold, and as you’ll be able to see, it has not damaged the uptrend line.”
Whereas bullish on Bitcoin and Coinbase, Wooden mentioned final month that she expects many different crypto property to go to zero, significantly tokens within the memecoin area. In an interview with Bloomberg, Wooden predicted that “tens of millions” of memecoins would turn into nugatory.
“What we expect will occur is there will probably be some fearsome declines within the costs of a few of these meme property, and there’s nothing like shedding cash for individuals to study. Now study that the SEC and regulators will not be taking accountability for these memecoins…
The tens of millions of memecoins will most likely find yourself nugatory. After we’re speaking in regards to the massive three – Bitcoin, Ethereum, Solana, the use instances for these are multiplying, and we expect they’re going to turn into essential within the years forward. Memecoins, not so.”
Observe us on X, Fb and Telegram
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Worth Motion
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any losses chances are you’ll incur are your accountability. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in online marketing.
Generated Picture: Midjourney