ARK Investment, an investment firm led by the investor Cathie Wood, had purchased more than $70 million worth of crypto-related stocks as the bitcoin price fellARK Investment, an investment firm led by the investor Cathie Wood, had purchased more than $70 million worth of crypto-related stocks as the bitcoin price fell

ARK Invest Buys $72 Million in Crypto Stocks as Bitcoin Price Falls

2 min read
  • ARK Invest bought $72M in crypto stocks during Bitcoin’s price drop.
  • The firm is betting on a long-term crypto recovery despite market weakness.

ARK Investment, an investment firm led by the investor Cathie Wood, had purchased more than $70 million worth of crypto-related stocks as the bitcoin price fell briefly below $75,000. They used the market weakness to increase the exposure to companies tied to crypto trading and stablecoins. 

How ARK spent $72 million 

The investment was spread across three ARK ETFs, such as ARKF, ARKK, and ARKW. They spent $72 million buying shares of companies like Rodinhood ($32.7 million), CoreWeave ($14.6 million), Circle Internet ($9.4 million), Bitmine Immersion Technologies ($6.3 million), Bullish ($6 million), Block ($1.9 million), and Coinbase ($1.3 million). The largest purchase was Robinhood, which shows interest in trading platforms and crypto-related infrastructure.

ARK’s long-term strategy belief

These purchases from ARK show his long-term strategy of buying during the market downturns. The firm believes that Crypto downturns are temporary and the market drops create buying opportunities. They strongly believe that long-term crypto adoption will lead to higher trading activity and revenue for the exchanges. The ARK has already done this by purchasing around $21.5 million worth of crypto stocks in late January when Bitcoin fell below $90K.

Cathie Wood consistently said that Bitcoin can be a good diversification asset for investors. According to ARK’s research, Bitcoin does not move in sync with stocks and other traditional assets, which makes it useful for spreading risk in investment portfolios. This belief shows that ARK is investing in crypto companies continuously, even during market weakness. 

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