Cathie Wood Bets Big on Block: A Tale of Stock Slumps and Crypto Dreams 💰🚀

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Imagine, if you will, a world where Cathie Wood, the high priestess of tech stocks, decides to add a whopping 262,463 shares of Jack Dorsey’s Block Inc. to her Ark Invest portfolio. Yes, you read that right. On August 11, when most of us were probably just trying to figure out how to make our lattes taste less like dishwater, Cathie was busy spending $19.2 million on Block shares. Talk about timing! 🕒💰

Here’s every move Cathie Wood and Ark Invest made in the stock market today 8/11

– Ark Invest Daily (@ArkkDaily) August 12, 2025

Now, with this latest acquisition, Ark Invest finds itself the proud owner of Block shares worth a cool $169 million, making up a tidy 1.62% of its total portfolio. And why not? After all, Block just reported some pretty impressive Q2 results, boasting a $1.5 billion profit-a 16% jump from last year. Not too shabby for a company that’s been around the block a few times. 🚗📊

Oh, and did I mention that Block recently joined the S&P 500 index? It’s like being invited to the cool kids’ table at lunch. But wait, there’s more! Earlier in August, Cathie also decided to buy some Coinbase shares, clearly signaling her love for all things crypto. 🪙❤️

Jack Dorsey’s Bitcoin Expansion Plans

Jack Dorsey, the man behind Block (and previously Twitter), is on a mission to make Bitcoin as ubiquitous as the morning coffee. He’s got big plans to expand Bitcoin adoption through Block’s various ventures. For starters, they’re prepping a full Bitcoin banking suite for small businesses, leveraging their subsidiaries like Cash App, Square, and Bitkey. 🏦💼

Cash App, the app that lets you send money to your friends without having to actually talk to them, already supports the Bitcoin Lightning Network and raked in a staggering $10 billion in Bitcoin revenue in 2024. Square, meanwhile, allows U.S. merchants to accept Bitcoin payments, which is like giving them a superpower in the digital age. And then there’s Bitkey, offering self-custody hardware wallets for the everyday crypto enthusiast. 🛠️🔒

In the second quarter alone, Block added 108 BTC to its corporate treasury, bringing its total holdings to 8,692 BTC, purchased at an average price of $30,405. This move solidifies Block’s status as a major corporate cheerleader for Bitcoin. Who knew that buying digital currency could be so… profitable? 🤑🌟

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2025-08-12 16:37