The ARK ETF in the US stock market is back in glory, and Cathy Wood has finally made a move.
Recently, Cathy has reduced her holdings in stocks related to the cryptocurrency sector in her ETF.
You might think she has started to turn bearish on the crypto market,
but in fact, she has reinvested that money into a company called 'Bitmine'.
Bitmine focuses on Ethereum reserves,
and this company’s main sources of income are:
1. Ethereum ETH reserves:
Earnings from staking + income from price appreciation.
2. Mining income:
Operating its own mining facility, continuously mining Bitcoin.
3. Mining machine hosting and sales.
This company is entirely engaged in the cryptocurrency-related business.
It is somewhat different from SBET, which primarily focuses on gaming,
recently just accumulating Ethereum, hoping to rely on Ethereum to help the company transform.
Cathy hopes to replicate the experience of soaring with Tesla through this move.
I mentioned in my previous article that
money from the US stock market will continuously flow into the crypto market; Cathy has fired the first shot,
and soon there will be more funds and companies getting on board,
these companies buying Ethereum will continuously drive up the price, and then stake it on-chain, increasing liquidity in the crypto market, leading to more ways to participate.
With more people entering the crypto market, it indirectly pushes up the price of Ethereum, which in turn drives stock prices up, making investors more willing to trust and invest.
Creating a spiral upward.
I will write a more detailed article about Ethereum later.
For my own public chain allocation, I have also allocated part of my SOL and Sui to Ethereum.
Ethereum has just begun!
