{"id":59917,"date":"2022-04-11T14:19:09","date_gmt":"2022-04-11T11:19:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59917"},"modified":"2025-09-05T00:37:15","modified_gmt":"2025-09-04T21:37:15","slug":"ark-invests-cathie-wood-exits-paypal-shares","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invests-cathie-wood-exits-paypal-shares\/","title":{"rendered":"ARK Invest&#8217;s Cathie Wood exits PayPal shares"},"content":{"rendered":"<p>ARK Invest liquidated its position in PayPal shares. The CEO of the asset-management firm, Cathie Wood, explained the move in an interview with CNBC, citing greater confidence in the prospects of Block&#8217;s Cash App (formerly Square).<\/p>\n<p><iframe loading=\"lazy\" width=\"1280\" height=\"720\" src=\"https:\/\/www.youtube.com\/embed\/ebOhxUJpSM4\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>PayPal owns the mobile payments service Venmo, which in April 2021<a href=\"https:\/\/forklog.com\/en\/news\/venmo-adds-support-for-bitcoin-ethereum-litecoin-and-bitcoin-cash\"> added<\/a> the ability to buy and sell cryptocurrency. But for Wood, Cash App leads due to support for <a href=\"https:\/\/forklog.com\/en\/news\/lightning-network-faster-cheaper-bitcoin-transactions\">Lightning Network<\/a>. Unlike PayPal, Block has taken a more holistic approach to integrating wallets with digital assets, according to the ARK Invest CEO.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We tend to bet on those we believe will be the winners&#8221;<\/em>, she explained.<\/p>\n<\/blockquote>\n<p>Cash App&#8217;s user base is growing more organically, while Venmo treats the development of cryptocurrency support as a back-burner priority, Wood said.<\/p>\n<p>Venmo&#8217;s audience numbers 70 million active users, CashApp \u2014 44 million. In 2021, net income for the former was $850 million, the latter $2.03 billion.<\/p>\n<p>In April 2022, Cash App representatives announced the addition <a href=\"https:\/\/forklog.com\/en\/news\/cash-app-adds-auto-investing-features-for-bitcoin\">auto-investing features in Bitcoin<\/a>.<\/p>\n<p>In December 2021, <a href=\"https:\/\/forklog.com\/en\/news\/square-to-rename-to-block-as-it-focuses-on-blockchain-projects\">Square changed its name to Block<\/a>. The move was linked to a desire to reflect the growth of the structure and its commitment to blockchain projects.<\/p>\n<p>Earlier, the company&#8217;s CEO Jack Dorsey repeatedly spoke of making digital gold \u201cthe native currency of the Internet.\u201d<\/p>\n<p> Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Invest liquidated its position in PayPal shares. The CEO of the asset-management firm, Cathie Wood, explained this move in an interview with CNBC, citing greater confidence in the prospects of Block&#8217;s Cash App.<\/p>\n","protected":false},"author":1,"featured_media":59918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,1533,182],"class_list":["post-59917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-cash-app","tag-paypal"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/59917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=59917"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/59917\/revisions"}],"predecessor-version":[{"id":59919,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/59917\/revisions\/59919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/59918"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=59917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=59917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=59917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}