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Fortune

Steve Mollman

Cathie Wood’s ARK Invest is bingeing on Bitcoin, Coinbase, and Tesla even as other investors have fled all three this year

Cathie Wood Tesla Inc. Coinbase ARK Ark Invest Bitcoin FTX

(Credit: Marco Bello—Getty Images)

Cathie Wood is keeping the faith. While many investors are fleeing Tesla and the crypto space, the ARK Invest CEO remains optimistic about the long-term value of Tesla, Bitcoin, and cryptocurrency exchange Coinbase—all hammered this year—and is investing accordingly.

This week, ARK Investment Management funds bought nearly 75,000 shares of Tesla, close to 300,000 of Coinbase, and more than 315,000 of the beleaguered Grayscale Bitcoin Trust, according to Bloomberg.

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