Cathie Wood, CEO of ARK Invest, continues buying Circle shares despite a 42% decline over a year, making it the flagship fund’s biggest crypto bet with a $329 million position. Circle, issuer of the USDC stablecoin backed by the dollar and short-term US government debt, saw its stock rise from $31 at its June 2025 IPO to $87.98 on Friday, representing a 184% gain, not the 84% Wood stated. Among the 21 analysts covering the stock, recommendations range from strong buy to sell, with price targets spanning $37 to $173, a 4.7-fold spread reflecting deep disagreement over the company’s valuation in an emerging market.
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