Veteran investor and cryptocurrency advocate Cathie Wood emphasized on Tuesday that global collaborations between “leaders” accelerate innovation.
Wood Facilitates Meeting Between ETH Bulls
In an X post, the Ark Invest CEO said she was “glad” to introduce Wall Street strategist Tom Lee to Quantum Solutions CEO Francis B. Zhou in Tokyo.
“Innovation thrives when leaders share ideas globally. Glad to help spark the conversation,” Wood said.
See Also: Tom Lee Drops His Boldest S&P Call Yet — 7200–7300 Is Likely For December
Ark Invest Backs Lee’s ETH Treasury Play
Lee, who chairs the Ethereum (CRYPTO: ETH) treasury company BitMine Immersion Technologies Inc. (NYSE: BMNR), has seen significant interest from Wood’s asset management platform.
As of this writing, it owns a combined total of 8.06 million shares via its ARK Innovation ETF (BATS: ARKK), Ark Fintech Innovation ETF (BATS: ARKF) and ARK Next Generation Internet ETF (BATS: ARKW), worth $271.31 million
BitMine is the world’s largest corporate holder of ETH, currently sitting on a stash worth $11.9 billion, according to CoinGecko.
Japan’s BitMine
Similarly, she has backed Quantum Solutions, the largest ETH-centric treasury company outside of the U.S. The Tokyo Stock Exchange-listed company holds 5,030 ETH, worth $16.06 million, as of this writing.
Wood has been bullish on ETH's potential, citing its role in decentralized finance and yield-bearing capability.
Price Action: At the time of writing, ETH was exchanging hands at $3,191.17, up 4.57% in the last 24 hours, according to data from Benzinga Pro.Bit
BitMine shares rose 1.34% in after-hours trading after closing 5.48% higher at $33.66 during Wednesday’s regular trading session. Year-to-date, the stock has surged 331%.
BMNR exhibits a weaker price trend in the short and medium term but a positive outlook over the long-term horizon. Visit Benzinga Edge Stock Rankings to see how it stacks up against Strategy Inc. (NASDAQ: MSTR), the world’s largest cryptocurrency treasury company.
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