Ark Invest Adds More Coinbase Shares…Halts Bitcoin Sales

# Ark Invest Boosts Coinbase Stake Amid Strategic Shift Ark Invest, the asset management firm led by Cathie Wood, recently adjusted its investment strategy by significantly increasing its holdings in Coinbase (COIN) while refraining from selling Bitcoin (BTC), according to a report by CoinGape on the 13th. Arkham Intelligence disclosed that this week, Ark Invest purchased 64,358 shares of Coinbase for approximately $11.53 million, marking the largest purchase of Coinbase shares since August 2024. Notably, this acquisition was made without selling off its holdings in Bitcoin spot ETFs, contrasting with its earlier strategy of selling about $9 million worth of Bitcoin ETFs. Analysts believe Ark Invest’s move signals a strong long-term confidence in both Coinbase’s stock and the cryptocurrency market. # Strategic Shift at Ark Invest Ark Invest has shown a strategic approach in adjusting its portfolio based on market trends. This latest decision reflects a renewed confidence in digital assets. Cathie Wood, CEO of Ark Invest, recently reiterated her optimistic outlook on the cryptocurrency market, predicting that "the economy could experience a deflationary boom," according to her recent posts on X (formerly Twitter). Bitcoin spot ETFs have been one of the most significant developments in the cryptocurrency market in recent years. These ETFs have increased institutional accessibility and liquidity, positively impacting the market. Wood reaffirmed her forecast that Bitcoin could reach $1 million by 2030, underlining her confidence in Bitcoin’s mainstream adoption potential. # Impact on the Cryptocurrency Market Ark Invest’s additional purchase of Coinbase shares and the halt in selling Bitcoin can be interpreted as a positive signal for the cryptocurrency market. Coinbase is benefiting from increasing interest in digital assets, and the exchange's revenue is likely to rise if Bitcoin prices continue to climb. While market conditions remain uncertain, Ark Invest’s latest investment strategy demonstrates its confidence in the future of cryptocurrencies. This move is expected to have a favorable impact on the broader cryptocurrency market, including both Coinbase and Bitcoin.