
[ Yesterday Morning ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Last Sunday ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Last Saturday ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Last Wednesday ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology

[ Mon, Aug 04th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Mon, Aug 04th ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology

[ Sun, Aug 03rd ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Wed, Jul 30th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Tue, Jul 29th ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology
[ Tue, Jul 29th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Tue, Jul 29th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Sun, Jul 27th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Fri, Jul 25th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Tue, Jul 22nd ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing
[ Tue, Jul 22nd ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Mon, Jul 21st ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Mon, Jul 21st ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Sun, Jul 20th ]: CoinTelegraph
Category: Food and Wine
Category: Food and Wine

[ Fri, Jul 18th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Jul 18th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Sun, Jul 13th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Fri, Jul 11th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Jul 11th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Jul 10th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Thu, Jul 10th ]: CoinTelegraph
Category: Food and Wine
Category: Food and Wine

[ Wed, Jul 09th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Tue, Jul 08th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Tue, Jul 08th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing
[ Tue, Jul 08th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Fri, Jul 04th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Jul 04th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Jul 03rd ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Mon, Jun 23rd ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Sat, Jun 21st ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Fri, Jun 20th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Tue, Jun 17th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Tue, Jun 17th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Mon, Jun 16th ]: CoinTelegraph
Category: Food and Wine
Category: Food and Wine
[ Mon, Jun 16th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Sun, Jun 15th ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology

[ Fri, Jun 13th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Jun 13th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Jun 12th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Thu, Jun 12th ]: CoinTelegraph
Category: Politics and Government
Category: Politics and Government

[ Fri, Jun 06th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Jun 05th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Wed, Jun 04th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Fri, May 30th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, May 30th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, May 29th ]: CoinTelegraph
Category: Travel and Leisure
Category: Travel and Leisure

[ Tue, May 27th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Fri, May 23rd ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, May 23rd ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Fri, May 16th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, May 15th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Thu, May 15th ]: CoinTelegraph
Category: Health and Fitness
Category: Health and Fitness

[ Tue, May 13th ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology

[ Mon, May 12th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Mon, May 12th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Sun, May 11th ]: CoinTelegraph
Category: House and Home
Category: House and Home

[ Fri, May 09th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, May 09th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, May 09th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, May 08th ]: CoinTelegraph
Category: Travel and Leisure
Category: Travel and Leisure
[ Thu, May 08th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Wed, May 07th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Mon, May 05th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment
[ Mon, May 05th ]: CoinTelegraph
Category: Humor and Quirks
Category: Humor and Quirks

[ Sun, May 04th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Sat, May 03rd ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Fri, May 02nd ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, May 02nd ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, May 01st ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment
[ Thu, May 01st ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Sun, Apr 27th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Sun, Apr 27th ]: CoinTelegraph
Category: Sports and Competition
Category: Sports and Competition

[ Sat, Apr 26th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Fri, Apr 25th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Apr 25th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Apr 25th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Apr 24th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Thu, Apr 24th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Thu, Apr 24th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Wed, Apr 23rd ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Mon, Apr 21st ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Sat, Apr 19th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Fri, Apr 18th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Apr 18th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Fri, Apr 18th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Apr 17th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Wed, Apr 16th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Tue, Apr 15th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Mon, Mar 31st ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Mon, Mar 31st ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Mon, Mar 24th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Fri, Mar 21st ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Mar 20th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Wed, Mar 12th ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology

[ Tue, Mar 11th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance
[ Tue, Mar 11th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Feb 20th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Mon, Jan 27th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Fri, Jan 24th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Mon, Jan 13th ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment

[ Wed, Jan 08th ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Wed, Jan 01st ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing

[ Tue, Dec 24th 2024 ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing
[ Tue, Dec 24th 2024 ]: CoinTelegraph
Category: Business and Finance
Category: Business and Finance

[ Thu, Dec 12th 2024 ]: CoinTelegraph
Category: Science and Technology
Category: Science and Technology

[ Wed, Dec 11th 2024 ]: CoinTelegraph
Category: Media and Entertainment
Category: Media and Entertainment
ARK Invest buys $19M of Jack Dorsey's Block as stock tumbles to $73


🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Cathie Wood's ARK Invest has resumed buying shares of Jack Dorsey's financial services firm Block after a prolonged sell-off, bagging $19 million XYZ shares.

Cathie Wood's ARK Invest Snaps Up $19 Million in Block Shares Amid Fintech and Crypto Optimism
In a bold move underscoring her continued faith in disruptive technologies, renowned investor Cathie Wood and her firm ARK Invest have acquired approximately $19 million worth of shares in Block Inc., the fintech giant formerly known as Square and co-founded by Twitter's Jack Dorsey. This purchase, detailed in recent regulatory filings, highlights ARK's strategic positioning in companies at the intersection of finance, blockchain, and digital payments, even as broader market volatility persists.
Block Inc., which rebranded from Square in late 2021 to better reflect its expansive ecosystem, has been a key player in the fintech space. Under Dorsey's leadership, the company has evolved from a simple point-of-sale hardware provider into a multifaceted enterprise encompassing payment processing, cryptocurrency services, and decentralized finance initiatives. Its flagship Cash App allows users to buy, sell, and hold Bitcoin, positioning Block as a bridge between traditional finance and the burgeoning crypto economy. This acquisition by ARK comes at a time when Block's stock has faced headwinds, including fluctuations tied to interest rate hikes and economic uncertainty, yet Wood's bet signals confidence in its long-term growth trajectory.
Cathie Wood, often dubbed the "Queen of the Bull Market" for her high-conviction investments in innovative sectors like electric vehicles, genomics, and blockchain, has long championed companies that disrupt legacy industries. ARK Invest manages several exchange-traded funds (ETFs), including the ARK Innovation ETF (ARKK), which focuses on cutting-edge technologies. The $19 million purchase was split across multiple ARK funds, with a significant portion allocated to ARKK and others like the ARK Fintech Innovation ETF (ARKF). This isn't ARK's first foray into Block; the firm has periodically adjusted its holdings in the company, reflecting Wood's active management style that involves buying on dips and capitalizing on perceived undervaluations.
The timing of this investment is particularly noteworthy. Block's shares have experienced a rollercoaster ride in recent months, influenced by macroeconomic factors such as inflation concerns and shifting consumer spending patterns. Despite these challenges, Block reported robust quarterly earnings, with Cash App's Bitcoin revenue contributing substantially to its top line. Jack Dorsey, who stepped down as Twitter's CEO to focus more on Block, has been vocal about his vision for the company as a leader in open-source blockchain projects. Initiatives like TBD, Block's decentralized finance arm, aim to build Web5—a decentralized web platform powered by Bitcoin—further aligning with Wood's thesis on the transformative power of cryptocurrencies.
Analysts suggest that ARK's move could be interpreted as a vote of confidence in the resilience of the crypto sector amid regulatory scrutiny and market corrections. Bitcoin, a cornerstone of Block's offerings, has seen its price stabilize after a tumultuous period, and Wood has repeatedly forecasted astronomical growth for the asset class. In various interviews, she has argued that Bitcoin could reach $1 million per coin by 2030, driven by institutional adoption and its role as digital gold. By increasing its stake in Block, ARK is essentially doubling down on this narrative, betting that Dorsey's company will be at the forefront of mainstreaming crypto payments and decentralized applications.
This investment also fits into a broader pattern of ARK's portfolio strategy. Wood's funds have weathered criticism for their volatility, with ARKK experiencing significant drawdowns during market downturns. However, her approach emphasizes long-term disruption over short-term gains, often leading to outsized returns during bull cycles. For instance, ARK's early bets on Tesla and Coinbase have paid off handsomely, even if they've faced periods of underperformance. In the case of Block, the $19 million infusion represents a relatively modest addition compared to ARK's overall assets under management, which hover in the tens of billions, but it underscores a targeted accumulation strategy.
Market observers are watching closely to see if this purchase sparks renewed interest in Block's stock. Shares of the company, trading under the ticker SQ on the New York Stock Exchange, have shown signs of recovery following the announcement, though broader sentiment in tech and fintech remains cautious. Competitors like PayPal and emerging players in the crypto space, such as Coinbase, continue to vie for market share, but Block's integration of hardware, software, and blockchain gives it a unique edge. Dorsey's personal commitment to Bitcoin—evidenced by his advocacy and Block's substantial Bitcoin holdings—adds a layer of intrigue, as it ties the company's fortunes directly to the cryptocurrency's success.
Looking ahead, this development could have ripple effects across the investment landscape. If Block's initiatives in decentralized finance gain traction, it might validate Wood's optimistic outlook and encourage more institutional capital to flow into similar ventures. Conversely, ongoing regulatory pressures, such as potential crackdowns on crypto by bodies like the SEC, could pose risks. Wood has been an outspoken critic of overregulation, arguing that it stifles innovation, and her investment in Block serves as a practical endorsement of a more permissive environment for fintech evolution.
In summary, ARK Invest's $19 million purchase of Block shares exemplifies Cathie Wood's unwavering belief in the convergence of technology and finance. By aligning with Jack Dorsey's vision for a blockchain-powered future, ARK is positioning itself to capitalize on what could be the next wave of digital transformation. As the fintech and crypto sectors continue to mature, moves like this highlight the high-stakes game of investing in disruption, where conviction often trumps caution. Whether this bet pays off will depend on market dynamics, technological advancements, and the broader adoption of digital assets, but for now, it reinforces Wood's reputation as a forward-thinking investor unafraid to back bold ideas. (Word count: 812)
Read the Full CoinTelegraph Article at:
[ https://cointelegraph.com/news/cathie-wood-ark-19-million-buy-block-jack-dorsey ]
Similar Top and Current Publications
[ Last Monday ]: Kiplinger
Category: Stocks and Investing
Category: Stocks and Investing
[ Sun, Aug 03rd ]: Impacts
Category: Stocks and Investing
Category: Stocks and Investing
[ Wed, Jul 30th ]: USA TODAY
Category: Stocks and Investing
Category: Stocks and Investing
[ Tue, Jul 29th ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing
[ Mon, Jul 28th ]: Finbold | Finance in Bold
Category: Stocks and Investing
Category: Stocks and Investing
[ Mon, Jul 28th ]: The Motley Fool
Category: Stocks and Investing
Category: Stocks and Investing
[ Wed, Jul 23rd ]: Finbold | Finance in Bold
Category: Stocks and Investing
Category: Stocks and Investing
[ Tue, Jul 22nd ]: CoinTelegraph
Category: Stocks and Investing
Category: Stocks and Investing
[ Fri, Jul 18th ]: 24/7 Wall St
Category: Stocks and Investing
Category: Stocks and Investing
[ Wed, Apr 30th ]: PBS
Category: Stocks and Investing
Category: Stocks and Investing