Cathie Wood, CEO ofARK Investment Management, has revealed that a significant portion of her personal net worth is invested inBitcoin(CRYPTO: BTC).
What Happened:During an interview with Schwab Network on Wednesday, Wood discussed her financial portfolio, stating, “Pretty much all of it is in innovation.”
Wood further disclosed that her personal financial investments include both her firm’s private funds and cryptocurrencies, primarily Bitcoin.
She emphasized her confidence in the depth of research conducted by her firm, stating, “It’s just that my degree of confidence in the depth of our research gives me the courage, people might say, to be more aggressive in this realm.”
— Jawwwn (@jawwwn_) January 10, 2024Wow!! Cathie Wood of @ARKInvest just shared how much #Bitcoin she holds PERSONALLY for the FIRST TIME.
Excluding Ark and real estate, Cathie estimates that $BTC makes up "at least 25%" of her net worth.$ARKB pic.twitter.com/fMBzvf7OEy
See More:Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Wood provided an estimate of her Bitcoin investment, stating, “Excluding Ark and excluding real estate, the financial net worth [in Bitcoin] is at least 25%.”
Why It Matters:This disclosure comes as ARK Invest recentlyreceived SEC approvalfor the Ark21Shares Bitcoin ETF.
As ARK promotes the allure of Bitcoin and the potential gains it offers, Wood’s firm, in collaboration withBlackRock Inc. (NYSE:BLK), has proactivelyreduced management feesfor their proposed spot Bitcoin ETFs.
The expense ratio has been lowered from 0.25% to 0.21%, accompanied by a fee waiver for the first six months or up to $1 billion in fund assets, aiming to attract investors amid intense competition.
Price Action: At the time of writing, BTC was trading at $46,050.65, up 0.38% in the last 24 hours, according to Benzinga Pro.
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Image made via photos on Flickrby WEFand Shutterstock
