Cathie Wood Praises Coinbase's Execution After Recent Share Sales

Despite recently reducing her firm's stake in Coinbase, Ark Invest CEO Cathie Wood remains bullish on the cryptocurrency exchange. Wood's positive outlook comes after Coinbase (COIN) released its fourth quarter report beating expectations with a revenue of $953.8 million. This strong performance appears to have solidified her confidence in the company's long-term potential, even as Ark Invest CEO and CIO Cathie Wood unloaded $82.1 million in Coinbase shares over the past three trading days, according to daily investor updates from the firm.

Coinbase Global Inc (NASDAQ:COIN) surpassed expectations in its fourth-quarter earnings, a fact that Cathie Wood described as evidence that Coinbase is performing well. Ark Invest CEO and CIO Cathie Wood, a vocal advocate of bitcoin, joins Yahoo Finance to give her insight into the crypto markets, Coinbase’s performance, Ark Invest's bitcoin ETF, ARK 21.

The timing of the share sales, occurring alongside Bitcoin (BTC-USD) regaining its $1 trillion market cap, has raised some eyebrows. However, Wood's continued commentary suggests strategic portfolio adjustments rather than a loss of faith in Coinbase. While Wood had also sold shares previously, her recent statements emphasize her belief in the company's strategic direction and ability to capitalize on the growing crypto market. Many are interested in understanding Ark Invest's bitcoin ETF strategy.

Stay tuned for further updates on Cathie Wood's perspective on Coinbase and the evolving cryptocurrency landscape.