Wood made a personal bet on bitcoin and still holds the cryptocurrency, she said on a podcast.Read MoreCoinDesk
Appearing on Peter McCormack’s ‘What Bitcoin Did’ podcast, Cathie Wood said she purchased $100,000 worth of bitcoin (BTC) when it was trading around $250 (which would suggest sometime in 2015). She said she hasn’t sold any of that initial investment, meaning her current profit on that $100,000 bet would be around $7.6 million.
Wood, whose firm is focused on innovative and disruptive investments, said that while she was able to make that personal bet on bitcoin, she couldn’t do the same in the ARK funds themselves as they were and are only allowed to invest in securities.
ARK eventually was able to get bitcoin exposure via the Grayscale Bitcoin Trust (GBTC), and the ARK Next Generation Internet Fund (ARKW) currently holds about 5.9 million shares of GBTC valued at roughly $67.4 million.
Wood continues to be bullish on bitcoin, and sees the Grayscale Trust – currently selling at about a 35% discount to net asset value – as trading at a “firesale” price given the chance that at some point it will be cleared to convert into a spot ETF.
Grayscale is owned by CoinDesk parent company Digital Currency Group.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
A strengthening U.S. dollar and the Fed's hawkish turn under new chair Kevin Warsh may…
Precious metals have fallen sharply from their 2025 highs as markets price in Fed rate…
Bitcoin Magazine BlackRock Tells Investors to Put Bitcoin in Their Portfolios BlackRock, the world’s largest…
Bitcoin Magazine Strive (ASST) CEO Says Company Is Buying Bitcoin ‘Hand Over Fist’ as Treasury…
Bitcoin held above $62,500 and ether near $1,665, but sluggish price action and widening put…
A surge in Rune protocol activity is pushing Bitcoin transaction counts and fee generation to…