5 Best ARK Stocks To Buy Now

3. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Shares Owned by ARK: 10,603,564

Stake Value: $796,115,573

Number of Hedge Fund Holders: 27

Cathie Wood has been holding on to Coinbase Global, Inc. (NASDAQ:COIN) even after a global crypto turmoil that hammered many crypto stocks. Cathie Wood’s ARK owns a $796 million stake in Coinbase Global, Inc. (NASDAQ:COIN).

Earlier in October Coinbase Global, Inc. (NASDAQ:COIN) jumped after the company received a Major Payment Institution license from the Monetary Authority of Singapore.

Here is what Miller Value Partners Opportunity Trust Fund has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q2 2022 investor letter:

“Coinbase Global Inc. Ordinary Shares (NASDAQ:COIN) fell during the quarter as the crypto markets continued to suffer. While the company reported disappointing results, it committed to capping EBITDA losses at $500M even in the event of “a prolonged market downturn”. COIN’s ample liquidity ($6b in cash on hand) should enable them to survive a prolonged “crypto winter” and invest to strengthen the business in the downturn. While the crypto market is early in its adoption, Coinbase is focused on building the platform for crypto not only supporting trading, and cold storage, but moving into NFTs, staking, and crypto derivatives. We see tremendous upside potential for COIN over the next decade if they are able to successfully execute on their platform strategy.”