Cathie Wood’s $10M HOOD Bet: Did Ark Just Switch Sides On Bitcoin For Robinhood?

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To invest, or not to invest—apparently, for Cathie Wood, that is never the question. Hot off the presses (and, one suspects, champagne corks), Robinhood has produced a Q1 earnings performance sufficiently vigorous to rouse Ark Invest’s inner Gatsby: the firm threw $10 million at HOOD stock with all the wild abandon of a poet loosed upon a Parisian salon. All this, mind you, while claiming to see a Bitcoin renaissance in the tea leaves. Yet instead of flinging all their riches on crypto, the Ark chariot now carries not only Robinhood but the likes of AMD, 10X Genomics, and some altcoins one would only mention after two glasses of questionable Bordeaux. 🎭

Ark Invest: The Curious Case of 210,714 Robinhood Shares

Today’s market news: Cathie Wood & Co have once more loomed grandly over American stock markets, acquiring 210,714 shares of Robinhood Markets Inc., or as it’s known in the tabloids, “HOOD,” for the saucy sum of nearly $10 million. One almost expects the NASDAQ to stage a standing ovation, or perhaps a good old-fashioned fainting spell. According to a post by Ark Invest Daily (presumably delivered by gilded carrier pigeon), this acquisition could pass as a novel’s plot twist—sudden, opulent, faintly scandalous. 🧐

Robinhood’s Q1 2025 earnings exceeded Wall Street’s expectations, with revenues brushing against $1 billion like a nervous debutante at her first ball. Ark Invest pounced on HOOD shares at $46.62 each—a price tragically down 5%, proving once again that even in finance, lingering too long before committing can cause one to trip on one’s own bustle. The purchase, executed by Ark Innovation ETF (ARKK), signals to the world (and anyone at lunch in Le Cirque) that disruptive technology isn’t done disrupting just yet.

Besides Robinhood, ARKK sauntered through the market and scooped up 186,812 shares of Guardant Health for a most medical $9.1 million, along with conspicuous helpings of Advanced Micro Devices and 10X Genomics. Ark seems intent on collecting companies as if assembling a cabinet of curiosities—or perhaps the world’s noisiest dinner party.

Meanwhile, in a move reminiscent of discarding last season’s hats, Ark Invest offloaded substantial shares in Roblox Group, Veracyte, and Palantir. And if you thought Ark was content with only one innovation, guess again: The Ark Autonomous Technology & Robotics ETF bought 184,742 shares of Aurora Innovation and bid adieu to 37,591 in Kratos Defense and Security Solutions—presumably with a curtsey and a pithy bon mot. 🕺

Why Is Lady Wood Lightening Her Bitcoin Luggage?

Ark Invest’s portfolio has begun to resemble a particularly hectic game of musical chairs. Last month, the company paused its frenzied Bitcoin purchases in favor of a motley crew of altcoins, like a gambler swapping the roulette wheel for the baccarat table. Solana now graces the portfolio—a debutant strutting amid old hands—while more familiar holdings are shuffled like a pack of eccentric aunts at a Sunday luncheon. 🍸

Why the sudden disdain for Bitcoin? Some whisper recession, others mutter portfolio rebalancing, and a bold few suspect Ark is just in it for the drama. Whatever the reason, market moves indicate a change as illogical and as inevitable as the London fog.

Don’t be fooled: Ark still believes Bitcoin shall ascend the golden staircase and wave at the rest of us from the $1 million balcony by 2030. If that’s too much champagne for your taste, they’re also toasting a more modest $710,000 (base case) and a gloomy $300,000 (bear case) by decade’s end. Meanwhile, Bitcoin prances about at $96,000—bullish, brash, and slightly overdressed for the weather. 🎩

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2025-05-02 14:40