ARK Invest has sold $59 million worth of Tesla shares and increased its holdings in the ARK 21Shares Bitcoin ETF amid a market dip. This strategic move comes as Bitcoin prices hover near $80,000. The investment firm aims to rebalance its portfolio by reducing Tesla exposure while capitalizing on the current weakness in Bitcoin ETFs. Despite the sale, ARK maintains a bullish outlook on Tesla, projecting a price target of $2,600 by 2029. Additionally, ARK has increased its investments in crypto-related companies such as Coinbase and Circle, indicating a continued interest in the cryptocurrency sector.
ARK Invest Sells $59M in Tesla, Increases Bitcoin ETF Holdings
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