The price of Bitcoin has plunged this year but shares of a trust that has been an easy way for investors to get access to the cryptocurrency have fallen even further. Tech investor Cathie Wood has taken notice. Shares of the Grayscale Bitcoin Trust (ticker: GBTC) are down nearly 70% this year, outpacing the roughly … Read more
Appearing on Peter McCormack’s “What Bitcoin Did” podcast, ARK Investment Management CEO 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 … Read more
It’s been a rough 2022 for famed money manager Cathie Wood, chief executive of Ark Investment Management, as her exchange-traded funds sink. Wood’s flagship fund, Ark Innovation ETF (ARKK) , plunged 64% year to date through Oct. 14, hitting a five-year low. Ark Innovation has tumbled 79% from its February 2021 record high. Soaring interest … Read more