Cathie Wood Defends Circle Buy As Analysts Split On Valuation

Cathie Wood said Wall Street analysts who built their careers on Visa and Mastercard cannot understand Circle, as ARK Invest kept buying the stock after a 42% annual drop. According to BeInCrypto, Wood argued Circle should benefit from technology reshaping payments, while noting Mastercard and Visa have risen roughly 150 times and 33 times since their listings. Circle issues USDC, and ARK’s flagship fund held 3,931,968 Circle shares worth $329 million on Friday.