Cathie Wood of ARK Invest is quoted in a Bloomberg article:
Wood was a believer in Bitcoin, too, and it powered some of the early gains in her funds. But after discovering an adverse tax rule, Ark decided it wasn’t appropriate for ETFs. Bitcoin, which hit $20,000 this week for the first time, is a 7% position in certain Ark separate accounts. Wood said she remains “extremely bullish.”
Markup mine.
What is she talking about?
