ARK’s Cathie Wood bought $100,000 worth of bitcoin for $250 years ago and has never sold it

On Peter McCormack’s “What Bitcoin Did” podcast, Cathie Wood, CEO of ARK Investment Management, said that she bought $100,000 worth of Bitcoin (BTC) when it was trading around $250 (suggesting , sometime in 2015). She said she didn’t sell any of that initial investment, meaning her current profit from that $100,000 bet would be about $7.6 million.

Wood, whose firm she co-founded focuses on innovative and disruptive investing, said that while she was able to make that personal bet on Bitcoin, she couldn’t do the same in the ARK funds themselves, as they were and are only allowed in securities invest.

ARK was eventually able to get bitcoin exposure through the Grayscale Bitcoin Trust (GBTC). The ARK Next Generation Internet Fund (ARKW) currently holds about 5.9 million shares of GBTC worth about $67.4 million.

Wood remains bullish on bitcoin and sees the Grayscale Trust — currently selling at a discount of about 35% to net asset value — as trading at a “fire sale” price given the chance that it will eventually be put up for conversion an exchange-traded cash fund (where regulators permit).

Grayscale is owned by CoinDesk parent company Digital Currency Group.

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