Fred Ehrsam Sells $13 Million Worth of Coinbase Shares
Fred Ehrsam, co-founder of the popular cryptocurrency exchange Coinbase, has recently sold $13 million worth of company shares. This sale comes as Ehrsam cashed out on his 10% ownership stake in the company, selling the shares at a price of $130.40 per share and making a total of $12,276,105 in the process.
ARK Invest Conducts Major Sale of Coinbase Shares
In addition to Ehrsam’s sale, Cathie Wood’s investment firm ARK Invest has also conducted a significant sale of Coinbase shares. On December 8th, the firm sold 335,860 shares from three funds – ARKW, ARKK, and ARKF – for a total of $49.2 million. The shares were sold at a price of $146.4 each.
Increased Share Sales Amidst Rising Prices
Notably, there has been a surge in share sales since mid-November, with investors taking advantage of the growing value of Coinbase shares. Over the past month, the share price has risen from $92 to $138. This increase in activity and sales indicates growing confidence in the company’s future prospects.
Analyst Predicts Further Growth for Coinbase
Analyst Peter Brandt has also expressed optimism about Coinbase’s future. In late November, he predicted that the company’s shares would continue to rise in value, suggesting that there may be more growth on the horizon.
Hot Take: Fred Ehrsam and ARK Invest Sell Coinbase Shares Amidst Rising Prices
Fred Ehrsam and Cathie Wood’s investment firm ARK Invest have recently sold significant amounts of Coinbase shares, capitalizing on the company’s rising stock price. This surge in share sales reflects growing confidence in Coinbase’s future prospects and indicates that investors are taking advantage of the increasing value of their holdings. With analyst predictions of further growth, it will be interesting to see how Coinbase continues to perform in the coming months.
By
By
By
By
By