ARK Invest, the investment management firm founded and led by Cathie Wood, has announced the acquisition of a stake in Elon Musk’s artificial intelligence (AI) startup, xAI.
On May 28, ARK disclosed this investment to its clients via email. ARK Chief Futurist Brett Winton stated that the stake represents about 2% of the fund’s holdings, according to Bloomberg.
Winton remarked, “xAI’s access to X’s distribution and real-time data differentiates it from any other AI play, particularly when combined with Elon Musk’s maniacal focus on velocity.”
Earlier, on May 10, X introduced AI-curated audiences, enabling advertisers to define target groups while X’s AI creates relevant user pools.
This acquisition is part of ARK Invest’s broader strategy in AI. Last month, ARK revealed that 4% of its holdings are in OpenAI, the creator of ChatGPT, and 5% are in Anthropic, the developer of the Claude AI model.
Winton anticipates AI foundation models will be valued at “multiple trillions of dollars by the end of this decade.”
During the COVID-19 pandemic in 2021, Wood garnered attention for her bullish investments in Tesla, another company associated with Musk.
xAI, Musk’s latest venture, launched in March 2023, aims to compete with AI giants like OpenAI, Google, and Microsoft.
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On May 26, xAI announced it had raised $6 billion in a Series B funding round, attracting major investors such as Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and Prince Alwaleed bin Talal and Kingdom Holding, among others.
This funding round increased xAI’s valuation to about $24 billion, a significant milestone for the relatively young startup. Musk has also hinted at plans to launch a new data center by fall 2025.
This project, referred to as the “Gigafactory of Compute,” is intended for training and developing the next generation of the company’s Grok AI system.
Musk has been vocal about his views on AI and its potential impact on the future.
At the VivaTech Paris 2024 conference, Musk expressed concerns that current AI models are not “maximally truth-seeking” and instead “pandering to political correctness.”
He also predicted that AI will soon “do everything better than you” and eventually render employment obsolete.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Ether may surprise crypto markets by hitting new all-time highs before Bitcoin reenters price discovery.
In his latest market analysis, Michaël van de Poppe, founder and CEO of trading firm MNTrading, predicted a likely move by ETH/USD.
According to new analysis, Ether is expected to surpass its current all-time highs soon.
As reported by Cointelegraph, crypto traders are anticipating strong Bitcoin price action in response to the launch of spot ETF products for Ether in the United States.
These products, while not yet fully approved for trading, have received a notional green light from regulators following a surprise U-turn.
This development could reduce Bitcoin’s share of the overall crypto market cap, potentially giving altcoins more room to grow.
“The Bitcoin dominance has likely peaked this cycle at 58%,” Van de Poppe stated.
“The valuations of altcoins are super low compared to Bitcoin. Likely the next all-time high is going to be reached for Ethereum.”
At the time of writing, ETH/USD traded at around $3,850, based on data from Cointelegraph Markets Pro and TradingView, still significantly below its record of $4,900 set in late 2021.
The Bitcoin ETF battle reached a symbolic milestone on May 28 as BlackRock’s IBIT surpassed the Grayscale Bitcoin Trust (GBTC) in BTC holdings for the first time.
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According to inflows tracked by sources like crypto reviews portal Apollo, at the close of Wall Street trading, IBIT had accumulated 288,670 BTC compared to GBTC’s 287,450 BTC.
This “flippening” had long been anticipated by market observers.
Since converting to a spot ETF in January, GBTC has steadily lost assets under management as investors shifted their funds. Initially, GBTC held nearly 620,000 BTC, but the tally has now decreased by 53%.
“Biggest news: Blackrock now holds more BTC than GBTC,” popular commentator WhalePanda noted on X (formerly Twitter).
WhalePanda also mentioned upheaval at Grayscale, with CEO Michael Sonnenshein announcing his resignation earlier this month.
Bitcoin ETF operators have experienced a resurgence in interest recently, with inflows remaining net positive for ten consecutive days.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Hat on Trump (HATTRUMP) presents a similar opportunity for a limited time.
Hat on Trump (HATTRUMP), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
HATTRUMP will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Hat on Trump.
Currently, Hat on Trump can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy HATTRUMP on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Hat on Trump by entering its contract address – BxJt15s4gypHswQjEu26jRxKaeo7btS7TvYqbyJxEzGZ – in the receiving field.
HATTRUMP currently has a market cap of just under $12,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Smiling Pepe (SMPEPE) could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Smiling Pepe (SMPEPE), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because SMPEPE has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Smiling Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Smiling Pepe could become the next viral memecoin.
Smiling Pepe launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Smiling Pepe on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Smiling Pepe by entering its contract address – FXXqi7yhM4vLMRryJYA9cpDTo3fD1tPmD1c8pLecuyCv – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like SMPEPE.
BlackRock’s spot Bitcoin exchange-traded fund (ETF) has reportedly overtaken the Grayscale Bitcoin Trust (GBTC) to become the largest ETF tracking Bitcoin’s price.
As of May 28, BlackRock’s iShares Bitcoin Trust (IBIT) saw inflows of $102.5 million, while GBTC experienced an outflow of $105 million.
This inflow increased BlackRock’s spot Bitcoin ETF holdings to 288,670 Bitcoin.
In comparison, Grayscale now holds 287,450 Bitcoin, a significant drop from the 620,000 Bitcoin it held at the time of its conversion in January, according to data from HODL15Capital and the Apollo Bitcoin Tracker.
A Bloomberg report on May 29, based on its compiled data, indicated that BlackRock’s fund held $19.68 billion in Bitcoin as of Tuesday, slightly more than Grayscale’s $19.65 billion. Fidelity’s ETF offering was further behind at $11.1 billion.
“There is a new king in the land of Bitcoin ETFs & its BlackRock,” HODL15Capital noted.
Both ETFs launched in January, and since then, BlackRock’s ETF has dominated inflows among all 11 spot Bitcoin ETFs.
Bitcoin’s price rose by 1.1% on the day, reaching $68,550, as reported by CoinMarketCap.
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Regulatory filings reveal that in the first quarter, BlackRock’s income and bond-focused funds acquired shares of its spot Bitcoin ETF.
BlackRock’s Strategic Income Opportunities Fund (BSIIX) invested $3.56 million in the iShares Bitcoin Trust (IBIT), while its Strategic Global Bond Fund (MAWIX) bought $485,000 worth, according to May 28 filings with the Securities and Exchange Commission.
Globally, spot Bitcoin ETFs now hold over one million Bitcoin valued at more than $68 billion, which represents approximately 5.10% of the circulating Bitcoin supply.
Attention is also focused on the potential launch of spot Ether ETFs, which analysts predict could begin trading as early as mid-June.
These ETFs are currently undergoing the S-1 approval process, the final step before they can start trading on their respective stock exchanges.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Ronaldo’s Jersey (RONJER) presents a similar opportunity for a limited time.
Ronaldo’s Jersey (RONJER), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
RONJER will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Ronaldo’s Jersey.
Currently, Ronaldo’s Jersey can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy RONJER on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Ronaldo’s Jersey by entering its contract address – 9gm8w1gwPizQCM79EZ7N58ZQHWL3Pc51vi1yCa8kwLGp – in the receiving field.
RONJER currently has a market cap of just under $12,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Smiling Pepe (SMPEPE) could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Smiling Pepe (SMPEPE), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because SMPEPE has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Smiling Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Smiling Pepe could become the next viral memecoin.
Smiling Pepe launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Smiling Pepe on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Smiling Pepe by entering its contract address – FXXqi7yhM4vLMRryJYA9cpDTo3fD1tPmD1c8pLecuyCv – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like SMPEPE.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Ronaldo’s Jersey (RONJER) presents a similar opportunity for a limited time.
Ronaldo’s Jersey (RONJER), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
RONJER will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Ronaldo’s Jersey.
Currently, Ronaldo’s Jersey can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy RONJER on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Ronaldo’s Jersey by entering its contract address – 9gm8w1gwPizQCM79EZ7N58ZQHWL3Pc51vi1yCa8kwLGp – in the receiving field.
RONJER currently has a market cap of just under $12,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
King Donald (KINGDON) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
King Donald (KINGDON), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and King Donald presents a similar opportunity.
King Donald has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 13,000% in the coming two days, and King Donald could potentially reach a multi-million dollar market cap within a few weeks.
Currently, King Donald can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy King Donald on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for King Donald by entering its contract address – J8uHNi8fkM7gSnJqADvGUudLbcfa3aeM8nHdALcHMLaT – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like KINGDON.
Technology company Nvidia‘s (NVDA) outperformance of Bitcoin over the past ten years is not expected to continue into the next decade, according to several crypto executives.
“Near zero chance of Nvidia outperforming Bitcoin over the next 10 years,” argued Swan Bitcoin CEO Cory Klippsten in a May 24 X post.
“I’d pick Bitcoin over Nvidia for the next ten years, personally,” investment strategist Lyn Alden stated, after pointing out on X that NVDA “is one of the few assets that has outperformed Bitcoin over a 10-year time period.”
From May 23, 2014, to May 23, 2024, Nvidia — known for producing chips used to train and deploy artificial intelligence (AI) models — achieved a return of 21,558%, while Bitcoin returned 13,048%, as per Statmuse data.
Over the last three months, following the approval of spot Bitcoin exchange-traded funds (ETFs) on January 10, Bitcoin has slightly outperformed Nvidia with returns of 31.7% compared to Nvidia’s 30.2%.
The Kobeissi Letter highlighted that a $10,000 investment in Nvidia stock in 1999 would be worth $25.3 million today, as mentioned in a May 24 X post.
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Daniel Sempere Pico speculated whether Nvidia was seen as an even riskier investment back in 2014 when both Bitcoin and AI were less mainstream.
“Don’t know if the whole AI thing could have been predicted by anyone back in 2014, but there were some people who could already see Bitcoin’s potential,” Pico explained.
“If we were to go back to 2014, I wonder which one we’d think is more risky and less obvious to achieve such incredible returns,” he added.
However, the co-founder of 21st.capital, known as “Sina” on X, argued that financial assets generally have broader network effects than AI as more people begin to use them.
“There are no network effects in AI. There are multiple layers of network effects in money,” Sina argued in a May 24 post.
While there are optimistic predictions for Bitcoin’s performance over the next 24 months, some experts also warn of potential significant corrections.
On March 4, Cointelegraph reported that former physics professor Giovanni Santostasi, using his “Power Law” model, predicts that Bitcoin could peak at $210,000 in January 2026 before falling to as low as $60,000 afterward.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.