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Ark Invest Increases Holdings in BitMine, Coinbase, Circle Stocks on Dips
Summary: According to reports from The Block, as the cryptocurrency market experienced a general decline on Monday, Cathie Wood's Ark Invest took a contrarian approach and heavily bought related stocks. Based on trading documents, Ark purchased a total of $17 million in BitMine stocks, $16.26 million in Coinbase stocks, and $10.8 million in Circle stocks through ...
According to reports from The Block, as the cryptocurrency market experienced a general decline on Monday, Cathie Wood's Ark Invest took a contrarian approach and heavily bought related stocks. Based on trading documents, Ark purchased a total of $17 million in BitMine stocks, $16.26 million in Coinbase stocks, and $10.8 million in Circle stocks through its three ETFs (ARKK, ARKW, ARKF), as well as adding $5.94 million in Block and $5.2 million in Bullish exchange stocks. On the same day, all these targets saw declines: BitMine plummeted by 11.22%, Coinbase fell by 6.37%, and Circle dropped by 9.60%. Bitcoin fell by 4.08% to $85,799, while Ethereum dropped by 5.74% to $2,931. Wood had previously predicted earlier this month that inflation may see a real breakthrough next year due to new technological innovations, demonstrating her long-term optimism towards the cryptocurrency market.
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Link: Ark Invest Increases Holdings in BitMine, Coinbase, Circle Stocks on Dips [Copy]
