Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Cathie Wood-led money managing firm Ark Invest on Friday shed all of its exposure in Chinese e-commerce biggie Alibaba Group Holding (NYSE:BABA) while continuing to snap up shares in rival JD.Com Inc (NASDAQ:JD).
The investment firm held less than 100 shares in the U.S.-listed company ahead of Friday’s trades and deployed Ark Fintech Innovation ETF (NYSE:ARKF) and the Ark Space Exploration and Innovation ETF (BATS:ARKX) to sell Alibaba shares on Friday.
The New York-based firm bought 59,000 shares — estimated to be worth about $4.7 million— in JD.com via ARKF on the same day. JD shares closed 0.48% lower at $79.86 on Friday.
ARKF held 1.29 million shares — worth $103.79 million — in JD as of Friday’s trades.
These are some other key Ark trades from Friday:
- Sold 68,017 shares — estimated to be worth $18.35 million — in Square Inc (NYSE:SQ). Shares of the Jack Dorsey-led company closed 1.45% higher at $269.74 on Friday.
- Sold 18,810 shares — estimated to be worth about $1.78 million — in Trimble Inc (NASDAQ:TRMB) on the day shares of the company closed 0.53% higher at $94.86.
- Bought 84,604 shares— estimated to be worth about $3.96 million — in Pfizer Inc (NYSE:PFE) on the day shares closed marginally higher at $46.84.
Photo: Courtesy of Alibaba
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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