Submitted by predictany007 t3_11aqqoz in wallstreetbets

Famed money manager Cathie Wood, chief executive of Ark Investment Management, continued to buy and sell some of her core names Wednesday.

Ark funds purchased 213,519 shares of Coinbase Global (COIN), the largest U.S. cryptocurrency exchange, valued at $13.1 million as of Wednesday’s close. Wood's flagship Ark Innovation ETF has dropped 37% over the past year but has rebounded 24% year to date.

Wood has been building up her Coinbase position for months. The company’s shares have tumbled 65% over the past year amid turmoil in the cryptocurrency market. But they have rebounded 70% this year, helped by bitcoin’s ascent.

Coinbase is the seventh biggest holding in Ark’s flagship Ark Innovation ETF.


Ark Invest's (ARKK) Cathie Wood reportedly bought 213,519 shares of Coinbase (COIN) yesterday worth $13.1 million. COIN is up 28% YTD and recently reported earnings that exceeded estimates. Do you think it is time to buy COIN?



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AgileCrypto23 t1_j9tf2zo wrote

Cathie Wood gives me hope that I could be a hedge fuck manager.


benji3k t1_j9uu5a7 wrote

It gives me the hope of *fucking a hedge manager , so we are the same same.. but different.. but still same.


sQGNXXnkceeEfhm t1_j9upqz2 wrote

In person, she is incredibly magnetic and charismatic. So you’ve got no chance.


daytradingguy t1_j9tfclj wrote

COIN has been making me $1000 or 2 almost everyday. The volatility has been great and it has been reasonably easy to catch $1-$2 moves up or down, some days both- with only a few hundred shares without taking a lot of risk.


Eccentricc t1_j9tq1ct wrote

I sorta like crypto but the market doesn't.

IF crypto survives, coin will be the stock to lead the pack. At the same time, recent time frames show a strong hatred for crypto with coinbase falling with it.

Is this the .com crash for crypto? Or is this the end? To that I don't know which is why I don't play it. I'm bullish on it but the market is bearish on it


BosSF82 t1_j9trlsg wrote

crypto jumped the shark very quickly and lost the battle of hearts and minds, and without some truly epoch defining innovation that the world soon adopts, it will continue to languish as a zombified niche area full of delusions, cynicism and the burning of real money.


BrotherAmazing t1_j9uuqpv wrote

Bitcoin is one of the few with a use case, adoption, and value that is not inherently speculative, but almost all crypto is trash (way more than 99%) and even the price of BTC is hard to know what it would be if we took away a lot of the speculative part of the demand; i.e., what portion of the demand is by those who actually use the bitcoin payment network and it fills a niche service of value/utility for them?


myne t1_j9vbsxb wrote

Eh? Use case? Btc doesn't have one. Eth does. Those smart contacts have potential. The key is adoption. I don't see much of that.


BrotherAmazing t1_j9vpk26 wrote

Not true.

Bitcoin is a peer-to-peer electronic payment network that requires no trusted 3rd party, no bank or Visa can sanction or deny payments on Bitcoin (Ethereum is already floating adding this capability now that they are PoS), and final irreversible payment occurs faster than Visa or ACH. Bitcoin is not a security, even the SEC has admitted this, while Ethereum is now considered a security by many at the SEC and even those who want to be Ethereum friendly have not said it isn’t a security like they have with Bitcoin, which is another advantage of Bitcoin.

I’m not going to shit on Ethereum like I will shit on 99% of the other crap out there (smart contracts are cool, I like Vitalik overall), but to say Bitcoin has no use case is ignorant. Just because it may not have a use case for you doesn’t mean there aren’t tens of thousands of people every day finding value in the services that Bitcoin’s network provides.


Trotter823 t1_j9w18op wrote

The real use case for Bitcoin is almost exclusively for scammers and criminals. Other than that it’s much slower and more expensive than actual money.


BrotherAmazing t1_j9w54r6 wrote

People have been saying that for 10 years. These comments have never aged well. Just wait for one or two more halvings and you’ll be seeing people saying “Bitcoin is dead!” when it crashes down to $75k a coin.

Literally you people have always been wrong longterm about Bitcoin, and there is nothing new or compelling you are bringing up here as an argument. I would be happy to listen if you had anything new that hasn’t been said constantly for the last 10 years while BTC has done nothing but gained adoption and crushed the S&P 500.


Ahueh t1_j9wgrb5 wrote

Hilariously lol. You can say the same thing about any bubble, until you can't. Bitcoin Maxi's have yet to name something useful it does. Even overhyped trash businesses that promised the moon had a reasonable lie they could sell to the average slob. BTC doesn't even have a product they can lie about.


BrotherAmazing t1_j9wmopp wrote

I already named useful things Bitcoin does and you completely ignored them:

  1. Bitcoin provides final irreversible settlement faster than ACH or Visa. This is important for me if I want to be 100% sure I have a final payment that can’t be clawed back before I send you something of value or perform a service for you of value. This can occur on a holiday or weekend or after hours when banks are closed.

  2. I can send you a payment and it cannot be censored, sanctioned, or declined.

  3. For a speculative investment, the native token of the Bitcoin payment network, BTC, is not a security by definition (even the SEC agrees) and that risk associated with being a security is eliminated. It also has a cap of 21M total BTC. Speculative? Yes! Don’t invest what you can’t afford to lose. Stupid? No! Not for 0.5% - 1% of your portfolio. The risk-reward given Bitcoin’s internal monetary policy and history of a bull market after each halving justifies speculation far more than on, say, 90% of the nonsense that gets thrown around here. It has the largest market cap for a reason.

There are more advantages than those I list, but those are very obvious advantages of Bitcoin.

Furthermore, Bitcoin was invented to solve a problem that was technical in nature, not the problem of “I want to get rich off a vaporware shitcoin” like almost all other chains besides Monero and Ethereum.

But the whole point here isn’t why Bitcoin will survive, the whole point is > 99% of crypto is garbage shit and Coinbase may not be a great investment longterm.


crash_bandicoot42 t1_j9wzfkd wrote

ETH does this but it's significantly faster. BTC only had first mover advantage the past decade but I don't see a world in which even if crypto becomes mainstream that BTC is the leader because it lags significantly behind Monero, ETH and a few other coins in usability.


BrotherAmazing t1_j9x1vlw wrote

Ethereum does, and should also be differentiated from “crypto” in general, but unlike Bitcoin it is a security and also has started seriously considering implementing mechanisms to censor transactions.

You also seem to ignore or perhaps are unaware of the Lightning Network.

But I agree Bitcoin, Ethereum, and Monero are a few non-scam non-shit blockchains, but almost everything else is complete rubbish, hence the main point that $COIN is at risk when they’re shilling shitcoin scams up the ying-yang and Papa Gensler comes guns a-blazing one of these days.


Trotter823 t1_j9wlp9q wrote

Crushed the S&P in what? Printing dollars for the owners of Bitcoin? In that case you think about Bitcoin in terms of dollars proving it doesn’t have real adoption because it’s always anchored to how many dollars it’s worth.

Bitcoin hasn’t produced an ounce of real value since it’s inception. It has a mystical creator and promises riches to its believers like some sort of religion. At any rate due to how many people seem to want to speculate on it I doubt it’s going to 0 anytime soon if ever and I’d even go as far as to say there’s a decent chance it goes way up from here but that’s a pure gamble. And personally I’d rather gamble on something less regarded than Bitcoin.


BrotherAmazing t1_j9wnp7n wrote

I already mentioned several use cases and services of value the Bitcoin decentralized peer-to-peer network provides elsewhere in this thread.

If you want to ignore that, it’s your ignorance and not my fault.


Trotter823 t1_j9wqcyj wrote

What do any of those use cases do for the average person that is inherently more beneficial than using visa? Just because it’s peer to peer doesn’t make it inherently better or worse. And the transaction fees, time, and inherent complexity of using Bitcoin is going to keep a lot of people out. That says nothing to its volatility which again, proves its not all that good at storing value.

Now if you need to pay for things off grid then it’s fantastic and there’s nothing like it but the number of people who need that isn’t exactly high.


BrotherAmazing t1_j9wxw7f wrote

I wasn’t saying everyone should use Bitcoin or that it should or will be adopted by the masses, replace fiat, etc etc. No, I don’t agree with that. I only was remarking that it is one of the few that should be distinguished from the rest of crypto as clearly not being a security (how many cryptos has Gensler publicly admitted again and again that they are not securities?) and it does solve use-case problems and provide value to some people in certain situations, often outside the developed world. I didn’t say anything about the size of the market for those who value using the Bitcoin payment network.

If someone wanted me to give them my jewelry in exchange for a check on a Sunday and I didn’t know them, I would do it. If they offered an ACH or Visa and it was “Pending” I wouldn’t give them the jewelry until it settled if I didn’t know them. That would take some time. If they paid me in BTC and it settled, I’d give them the jewelry.


myne t1_j9wiuma wrote

How much have you spent on goods and services?


BrotherAmazing t1_j9wmzyw wrote

Me personally? Only a few grand each year.

But I’ve never used Moneygram or Western Union in my life, never play video games, never use a lot of things I personally don’t have a desire to use.

That doesn’t mean these thing I personally don’t use don’t serve some use case or aren’t valued by people in this world.


BrotherAmazing t1_j9utljt wrote

Bitcoin will survive. Blockchain will survive. The question is whether all these shitcoins survive, and I think the answer is no. Not in the U.S. at least.

If you have an ICO and reserve a bunch of the supply for yourself, the founder(s) and dev team, you’re registering as a security or not operating lawfully in the U.S. is where this is going. Otherwise you launch like Bitcoin did and are then clearly not a security.

The days of “cryptoChef2020” making up a token out of thin air or a blatant copy of an Open Source project, gives himself 20% of the supply and his “dev team” 20% of the supply, holds an ICO on his own with vaporware/copied code behind it he pumped, then either skips town or legit tries to make the tech gain adoption for a little while to ease his conscience and might get listed on Coinbase are going to be gone soon if not already.


Stupidflathalibut t1_j9vs87c wrote

I dunno how old you are, but it seems like young people are really fucking bullish on crypto and see BTC as the gold standard. They don't have a lot of money to throw around yet but maybe in 10 years


Eccentricc t1_j9w292q wrote

I used to sell runescape gp back in high-school. This was 2012? Idk something like that. People would constantly scam me by doing charge backs on paypal and I kept losing money. I found bitcoin and would sell it for bitcoin so they couldn't charge back. I also didn't have a credit card in high school but I was able to buy and transfer funds with crypto. I made uses out of it, I never thought to invest and it blow up so big


Stupidflathalibut t1_j9xjeiu wrote

If it were obvious, it would be too late. I really think people forget it's not what you like, it's what consumers like. If there is a generation of people that grew up with crypto as a reality, they will be buying BTC like mad once they get some money


ActualCartoonist3 t1_j9vkzds wrote

Are you selling covered calls, swing trading, or something else? $1,000 a day seems like a lot, for a $1 move you need a thousand shares.


daytradingguy t1_j9vmdhm wrote

I trade a six figure account so can trade several thousand shares if I like. I normally trade 500 share lots. Sometimes more. First of all - I sometimes make more than $1 on the move, sometimes less. But often take more than one trade on it per day. The other day it moved up $5 and right back down $5. I caught a couple points each way. My post was just an approximation- saying it had been good to trade.


ActualCartoonist3 t1_j9vq8vq wrote

Ah got it, thanks! You mentioned a few hundred shares in your post so I thought you were doing this with more like 200 to 300 shares. 500 or several thousand makes much more sense. Good luck to you!


iWriteYourMusic t1_j9x5tv6 wrote

COIN has been one of the easiest stocks to trade of late. This week I made more off HON and NVDA tho… their moves were a bit more obvious. Next week I hope to keep COIN on the screen more. Any other stocks you’re following? I find the hardest thing to find is a stock with good volume and volatility plus a high ATR that’s relatively bearish against the market. HON was great this week but it’s still kinda choppy. Most stocks that have relative weakness are things like LLY and CNC that suck to day trade.


daytradingguy t1_j9y2m2j wrote

Of course TSLA is good for some erratic volatility as is BA at times. I only watch 3-4 stocks at a time, I switch them up from time to time depending on how they are performing. I also trade futures ES NQ or DAX. I have been trading awhile and trade on two accounts. Lightspeed with stocks in my left screen and IBKR with futures and sometimes Forex on my right screen. I am comfortable being in more than one trade at a time.


iWriteYourMusic t1_j9yolmx wrote

TSLA drives me nuts. It respects its resistance and support levels but the swings are so dramatic sometimes you have to keep an insanely wide stop loss just to stay in the trade. I feel the same way about ENPH for shorts. That’s cool that you keep such a short list. I’d like to try that for a week. I keep daily bullish and bearish lists of around 10 stocks each. What platform do you use to trade ES?


PeddyCash t1_j9xwtuq wrote

How so? You wheeling it ?


daytradingguy t1_j9y2vyh wrote

No just catching a trade, sometimes 2 or 3 different trades. Not hard to make $1000, sometimes $2000+ with only 500ish shares.


the_sound_of_a_cork t1_j9tfw04 wrote

She is right. CB will be the only trusted and biggest exchange once the dust settles.


bigcockmoney69 t1_j9tiv2e wrote

My money is on Fidelity


css555 t1_j9tmv99 wrote

Or anybody else. COIN has no moat.


jawni t1_j9vaodp wrote

It could have plenty of moat if Base takes off.


PsychicBanana6 t1_j9twjwt wrote

Tell me you no nothing of the industry without telling me


css555 t1_j9u2u8p wrote

What are the barriers to entry for any other company to do what they do?


lost_in_life_34 t1_j9u472x wrote

old people like fidelity don't know shit coins


joyful- t1_j9vdcti wrote

doesn't have to be fidelity or some other traditional institution to displace COIN


SokarDaGreat t1_j9xkghs wrote

Exactly, its not that serious, TastyTrade offers crypto trading lol


joyful- t1_j9vdfi2 wrote

i mean at least give a proper argument instead of a useless snide comment


monkeybawz t1_j9tmy5r wrote

You think there will be a trusted exchange?


Tyr312 t1_j9tfwb8 wrote

She has to. She’s too leveraged in crypto.


VisualMod t1_j9tettw wrote

>I believe that Coinbase is a strong investment at this time. The company has seen significant growth in recent months, and its earnings have consistently exceeded expectations. I think Ark Invest's Cathie Wood recognizes this potential and is making a smart move by increasing her position in the company.


jekpopulous2 t1_j9udflh wrote

Coinbase announced BASE yesterday… its an optimistic rollup on Ethereum. They’re gonna be eating off of those sequencer fees. Doubt the bald man at your own peril.


Don-QueHotas t1_j9th0qt wrote

Before her purchase, maybe. If I were to buy now, it would go back down.


luckytrade313 t1_j9tk87n wrote

then destroy her and buy ...... come on buy so you can sink her ship ,,,, oh dang it isn't her money is it ??????img


Ant0n61 t1_j9tqrye wrote

Initially read this as, “failed money manager Cathie Wood…”


BosSF82 t1_j9tewww wrote

She is such a trend chasing fool


Aggressive_Site8339 t1_j9tfvcp wrote

Not trend, theme. Literally what the fund is about. Met her and her team and she presented this to us. She is extremely sharp, just builds positions in names/themes for the forever time frame. Doesn’t chase returns, only size in a few themes. Its not what you or I try to do, but returns over a X-yr cycle they work out, or so we’re told.


BosSF82 t1_j9tgoko wrote

Except she has zero track record of forever time frame success


skyblue5432 t1_j9u7aiy wrote

Nope. Cathie buying something is always a red flag for me. Sure enough, COIN is down today. Look at the 5-year chart of e.g ARKK. Anyone can be lucky. Doing it consistently suggests skill.


jekpopulous2 t1_j9xjmbr wrote

You guys are asleep at the wheel. I wouldn’t buy COIN just yet but it’s an easy 5-10x over the next few years if they survive the bear. Forget Cathie… COIN only needs to get 2.5% of their users to use BASE to be the 3rd largest chain behind ETH and BSC. Go to DeFi Llama and look at Arbitrum’s revenue… like $150,000 / day profit after gas fees just off the sequencer fees. If Coinbase can get 5% of their users on BASE they’re the #2 chain. That means $200,000-$500,000 every day in sequencer fees. Again… not saying buy rn (they’re still losing money), but do not sleep on BASE. If (big if?) they can bring even 2.5% of CB users to that rollup they’ll be absolutely rolling in money. Like billions in revenue. Don’t fade them because everyone else is. Not many in trade-fi understand the metrics here. We’re talking about insane revenue… it’s just not gonna happen overnight so be patient and buy the bottom.


skyblue5432 t1_j9z5jb7 wrote

Oh I totally agree about the potential and it all depends on your timeframe. For now these aren't really things you'd want to be seeing though:

"Revenue plunged nearly 75% from a year earlier"

"Coinbase’s user base continues to shrink"

"Transaction revenue fell 12%"

"Coinbase’s business could also be impacted by possible SEC actions"


herlanrulz t1_j9wtmk0 wrote

I know the meme, but as I recall she bought a shit ton of Tesla at the exact bottom of the dip. Even a broken clock is right twice a day.


skyblue5432 t1_j9zdptr wrote

That's the point though :) The clock is right by accident, not skill. Over 5 years (to include good times and bad) the S&P is up 47%. BRK.A is up 52%, outperforming that. ARKK is now down 7%, underperforming, to put it mildly.


Bethany2748 t1_j9tnfxb wrote

She could be getting the shares for loaning out and covered calls. Not a bad way to put cash to work rather sit on the sidelines waiting for the impending downturn.


AlphaOne69420 t1_j9v4k85 wrote

Lol she’s a moron at this point imo


TheTerribleInvestor t1_j9v65s8 wrote

Dude bitcoin has came roaring back every time it crashes why wouldn't any one bet it would just come roaring back again? Last time it hit 60k this time it can go beyond that.


myne t1_j9vc6vd wrote

Since 2008 money has been chasing anything with a return/growth. Crypto has existed entirely in that world. Until now.


BMXnRoidz t1_j9u5obz wrote

>The company’s shares have tumbled 65% over the past year amid turmoil in the cryptocurrency market. But they have rebounded 70% this year, helped by bitcoin’s ascent.

I started buying up a bunch of $COIN in Dec. Very happy with my gains so far. The shit's tied to BTC, and every time a crypto exchange goes offline then CB just picks up more customers. I think business will continue to funnel into CB + next crypto bull makes this one a slow pitch. Cathy's problem is she bought the fucking top and now needs to bring her average down.


kaiyabunga t1_j9vn1l6 wrote

She deserves Bagholder of Century award


sushirolldeleter t1_j9tn3fu wrote

Probably would get better returns if she started an onlyfans than this dogshit.


kmpoaquests t1_j9tppke wrote

She loves to buy that top then ride it all the way balls deep


Die_Live_Repeat t1_j9u96kg wrote

If I had too much money I would continue to mirror trade her. Played out well with Teladoc, Fate and some others so far.


operator7777 t1_j9uae9b wrote

Also Tesla, she a very sneaky woman… she wants to get slowly on charge of the exchange in silence…


QuranBurner123 t1_j9ud56a wrote

Cathie is a victim of circumstance and locked into doing her defined strategy, which will make her underperform for a couple of more years. She can't actually trade, that's true in several ways.

But you know, the ARK ETFs are excellent for shorting, so they serve a purpose.


LizHurleyFan t1_j9uw876 wrote

Many stocks in her funds will go bust , including coin. After 2008 crisis Dodd Frank rules and many others came. SEC will bring more tightening and regulations.


Zzzzzzzzzzebra t1_j9vgwts wrote

Cathie does whatever her masters tell her


berndwand t1_j9vlhgn wrote

inverse kathi is the new inverse cramer !


Drdunk91 t1_j9vm2jh wrote

I liked when she bought at 220+ then sold exactly at 40$


MaterialGuy007 t1_j9wqdr5 wrote

Cathie is banking on Ukraine-Russian war suddenly ending next month. Stock markets (& crypto) will go up 5-7%. All countries including China pushing hard to end war - if there's any short term answer to inflation - its war-end!


SirBeaverton t1_j9x46w9 wrote

I hope she goes bust. I’ll never forget last year when they reported a huge top and bottom line loss, stock dipped 15% and I was up on my puts. Ended the day up 10% because of her crack addict gambling ways. Hopefully she gets blown out this year.


BossBackground104 t1_j9xl5qp wrote

CW seems to have early onset dementia. Since the other institutionals don't follow her in, her balloon never gets off the ground. Hard pass.


PeddyCash t1_j9xwqrf wrote

I just want to wheel the piss out of COIN. Anyone else wheeling this shit with me ?


Opaque130 t1_j9y27k2 wrote

She likes the coin . Fucking crown


Hotresearch-68 t1_j9tmumu wrote

She’s something I’ll say that .