Cathy Wood Is Going in Hard on Coinbase Stock

Article source, here.

TL;DR

• Coinbase is down almost 30% since Feb, thanks in part to bankruptcy fears surrounding one of its major banking partners.

• Despite that, Cathy Wood's Ark Invest has been buying up Coinbase stock like crazy.

• Maybe it’s because most of Coinbase's major US competitors have either gone under, been investigated by the SEC, or both.

• Or that Coinbase has recently announced the launch of its very own layer 2 for the Ethereum blockchain and - as of today - it's 'wallet as a service' tool.

Full Story

You know how Gary Vee is in an almost permanent state of excitement?

Well, even though she's a little calmer in demeanor, Cathy Wood brings that same energy when investing in disruptive technology.

She's made a name for herself by picking winning companies, when no one else could see the value.

C-Wood's biggest home run to-date has been Tesla, which her Ark Invest fund first bought way back in 2016, when prices were ~$13 (vs. today's ~$180).

And right now, she's buying up Coinbase stock like crazy. In fact, she's been buying it for six straight months now.

As per usual, folks are questioning her decision.

...and to be fair, Coinbase is down almost 30% since Feb, thanks in part to bankruptcy fears surrounding one of its major banking partners.

That said:

While we aren't market analysts (by any stretch of the imagination), we can see where Cathy's coming from.

In the past six months, most of Coinbase's major US competitors have either gone under, been investigated by the SEC, or both.

Plus Coinbase has recently announced the launch of its very own layer 2 for the Ethereum blockchain and - as of today - it's 'wallet as a service' tool.

So by comparison, Coinbase ain't doing too bad!