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’s Ark Investment Management on Friday further raised its exposure in Velo3D Inc (NYSE: VLD), a 3D-printing technology firm that counts Tesla Inc (NASDAQ: TSLA) CEO Elon Musk's SpaceX among its key customers.
The popular money manager bought 10,000 Velo3D shares — estimated to be worth about $70,300 based on their last closing price — on the dip through two of its actively traded exchange funds.
Ark Space Exploration & Innovation ETF (BATS: ARKX) and the Ark Autonomous Technology & Robotics ETF (BATS: ARKQ) together held 7.39 million — worth $52.69 million— in Velo3D before Friday’s trade.
Velo3D stock closed 1.4% lower at $7.03 a share on Friday. It is down 10.3% year-to-date.
Wood's Ark has been steadily buying shares in Velo3D since its market debut in October, which happened via a merger with blank-check firm Jaws Spitfire Acquisition Corp.
See Also: Cathie Wood Buys Another $800K In This Elon Musk-Led SpaceX's 3D Printing Partner
Here are a few other key Ark Invest trades from Friday:
- Bought 20,624 shares —estimated to be worth $3.26 million— in independent identity provider Okta Inc (NASDAQ: OKTA). The stock closed 5.7% lower at $158.4 a share on Friday and is down 29% year-to-date.
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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