ARK Invest Bets Big on Crypto Amid Market Volatility
ARK Invest, led by Cathie Wood, made significant stock purchases amid a challenging landscape for crypto firms. The firm acquired over $10 million in Bullish, a crypto exchange facing a record low, and further invested $30 million in Circle Internet Group, showcasing confidence in its future despite recent declines.
These moves highlight a strategic approach as the market grapples with uncertainty, particularly regarding Bitcoin's trajectory. While some stocks like MicroStrategy and Bitmine saw recoveries due to a slight uptick in Bitcoin prices, many others, including Tesla and Robinhood, continued to struggle.
This environment reflects a broader volatility in the crypto sector, as investors weigh potential recovery against ongoing market anxieties.
The press radar on this topic:
Cathie Wood buys $30M of sinking crypto stock
ARK Invest scoops $10M in Bullish as it hits record low amid crypto stock rout
Major crypto stocks surge as Bitcoin recovers
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