It is not just Bitcoin that will strike the clock in 2023, because the industry around the digital currency also benefits from the price increases of recent months. How about, for example, the share of Coinbase, which has been at a plus of more than 85 percent since the start of 2023,
Better than Bitcoin
Where the Bitcoin price so far has to do with an increase of ‘only’ 55 percent in 2023, Coinbase is therefore at a plus of 85 percent. With this, the American stock market is also doing a lot better than the Brazilian Nubank, on which the investment legend Warren Buffet bet his money.
In July of 2021 and February 2022, Buffet bought shares in Brazil’s Nubank with his investment firm Berkshire Hathaway for a total amount of USD 1.5 billion.
This news came as a big surprise at the time, because Buffet is known as someone who has nothing to do with crypto. In May 2022, Nubank shared that it would hold 1 percent of its assets in Bitcoin.
“This decision stems from the company’s belief in Bitcoin’s current and future potential to disrupt the financial world,” Nubank said at the time. Despite the bank’s 2022 share price drops, Buffet’s Berkshire Hathaway failed to sell a single share of Nubank.
Cathie Wood bets on Coinbase
Cathie Wood, the CEO of Ark Invest, has been betting on Coinbase for a long time. Although the turnover of the American exchange platform fell by 57 percent in 2022, the share has now started a recovery.
Cathie Wood’s Ark Invest does not seem to care about the turnover problems and continues to invest greedily in the exchange platform. About 30 percent of all purchases from its funds were Coinbase shares by 2023.
As a result, Coinbase is currently Ark Invest’s fifth-largest holding company. In total, the investment firm has USD 670 million in Coinbase shares on its balance sheet.