Cathie Wood Loads Up $55M In Twitter As It Enables Tipping With Bitcoin

0

Cathie Wood’s investment firm Ark Invest on Thursday snapped up 829,907 shares — estimated to be worth $55.34 million — in Twitter Inc (NYSE:TWTR), on the day the social media giant began letting users send and receive tips using Bitcoin (CRYPTO: BTC) as part of a bigger push to help users make money from the service.

Twitter shares jumped 3.80% higher on Thursday to close at $66.69.

The popular investment firm already owned shares in the Jack Dorsey-led social media company. Just a month before booking some profits in August, Ark Invest had snapped up over one million shares in Twitter after Dorsey told investors that apex cryptocurrency Bitcoin will be a “big part” of the social media company’s future.

See Also: Cathie Wood Snaps Up $45M In Robinhood On Debut, Adds $73M In Twitter

Dorsey is also the founder of payments company Square Inc (NYSE:SQ), which is heavily invested in the apex cryptocurrency.

Twitter is first offering Tips on iOS and then expand it for users on Android over the coming weeks.

See Also: Cathie Wood Piles Up Another $40M Shares In Draftkings Amid Talks Of $22B Entain Acquisition; These Are Other Key Trades From Wednesday

On Thursday, Ark Invest deployed the Ark Innovation ETF (NYSE:ARKK) and the Ark Next Generation Internet ETF (NYSE:ARKW) to buy shares in the San Francisco, California-based company. No other Ark ETF holds a stake in Twitter.

The two ETFs held a total of 11.95 million Twitter shares, worth $768 million, ahead of Thursday’s trade. 

Here are a few other key Ark Invest trades from Thursday:

  • Sold nearly 1.84 million shares — estimated to be worth $52.86 million— in Palantir Technologies Inc (NYSE:PLTR) on the day shares of the software company soared. PLTR shares closed 4.89% higher at $28.77 on Thursday.
  • Bought 154,978 shares — estimated to be worth $3 million — in Genius Sports Ltd (NYSE:GENI), on the day shares of the company closed 1.13% higher at $19.77.