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ARK Invest buys Coinbase, Bullish, Bitmine shares as crypto stocks slide

Bitcoin has been relentlessly shilled for years; Ethereum hasn’t. That’s starting to change. ETH is only now beginning to be marketed as a true number-go-up asset, with Tom Lee arguably the first mainstream figure to push that narrative seriously - aside from crypto influencers during the 2021 cycle.
Bitcoin dominance is once again showing signs of breaking down, similar to 2017 and 2021. At roughly 6 ETH per 1 BTC, Bitcoin is trading at a massive premium relative to Ethereum.
We have a clear picture of how Ethereum will be secured a decade from now. Bitcoin’s long-term security, however, is far less certain as block rewards continue to halve and AI datacenters compete for the same energy resources that mining depends on.
These are just a few of the advantages - and narratives - Bitcoin has enjoyed for years. Ethereum’s turn hasn’t even really begun yet.
**Bitcoin $1M+ Price “Predictions” (aka nonstop shilling):**
* **Anthony Pompliano:** *“Bitcoin Will Go to $1 Million Within Months”* [https://cointelegraph.com/news/anthony-pompliano-bitcoin-1-million](https://cointelegraph.com/news/anthony-pompliano-bitcoin-1-million)
* **Cathie Wood (ARK Invest):** *Bitcoin could reach $1–1.5M by 2030* [https://finance.yahoo.com/news/cathie-wood-confirms-1-million-203740643.html](https://finance.yahoo.com/news/cathie-wood-confirms-1-million-203740643.html?utm_source=chatgpt.com)
* **Brian Armstrong (Coinbase CEO):** *Bitcoin could hit $1M by 2030* [https://www.cnbc.com/2021/12/08/coinbase-ceo-brian-armstrong-says-bitcoin-could-hit-1-million.html](https://www.cnbc.com/2021/12/08/coinbase-ceo-brian-armstrong-says-bitcoin-could-hit-1-million.html)
* **Arthur Hayes (BitMEX):** *Bitcoin to $1M driven by liquidity injections* [https://cryptoslate.com/arthur-hayes-bitcoin-1-million/](https://cryptoslate.com/arthur-hayes-bitcoin-1-million/)
* **Michael Saylor:** *Bitcoin going to $13M by 2045* [https://cointelegraph.com/news/michael-saylor-bitcoin-price-13-million](https://cointelegraph.com/news/michael-saylor-bitcoin-price-13-million)
* **Greg Foss:** *Bitcoin at $2M is plausible* [https://www.coindesk.com/markets/2022/02/07/why-bitcoin-could-hit-2-million-greg-foss/](https://www.coindesk.com/markets/2022/02/07/why-bitcoin-could-hit-2-million-greg-foss/)

She trades TSLA better than anyone ARK just overleveraged into growth stocks in 2020/21 so the fund got a bad rep.
My ARKVX is up 50% this year and doesn't include the newest SpaceX valuation at double current levels.

This idea that Bitcoin “wasn’t shilled” is fantasy. You don’t get plumbers and construction workers buying BTC by talking about hash functions. You sell upside. That shilling turned belief into demand, and demand into price.
**Bitcoin $1M+ Price “Predictions” (aka nonstop shilling):**
* **Anthony Pompliano:** *“Bitcoin Will Go to $1 Million Within Months”* [https://cointelegraph.com/news/anthony-pompliano-bitcoin-1-million]()
* **Cathie Wood (ARK Invest):** *Bitcoin could reach $1–1.5M by 2030* [https://finance.yahoo.com/news/cathie-wood-confirms-1-million-203740643.html](https://finance.yahoo.com/news/cathie-wood-confirms-1-million-203740643.html?utm_source=chatgpt.com)
* **Brian Armstrong (Coinbase CEO):** *Bitcoin could hit $1M by 2030* [https://www.cnbc.com/2021/12/08/coinbase-ceo-brian-armstrong-says-bitcoin-could-hit-1-million.html]()
* **Arthur Hayes (BitMEX):** *Bitcoin to $1M driven by liquidity injections* [https://cryptoslate.com/arthur-hayes-bitcoin-1-million/]()
* **Michael Saylor:** *Bitcoin going to $13M by 2045* [https://cointelegraph.com/news/michael-saylor-bitcoin-price-13-million]()
* **Greg Foss:** *Bitcoin at $2M is plausible* [https://www.coindesk.com/markets/2022/02/07/why-bitcoin-could-hit-2-million-greg-foss/]()
If this isn’t shilling, then “price discovery” no longer has a meaning.

You understand ARK's models aren't what drive most S&P500 flows, right?
Either most stock market trading is systematic model driven, and thus it's obviously not whatever model you read about.
Or big global funds are all just winging it and randomly came to a weird schelling point on a ticker that they all can't justify to each other.

ARK steps in as crypto stocks extend multiday sell-off