Ark Invest buys the dip in Circle, Bitmine, Bullish shares
The Block
Ark Invest purchased significant shares in Circle, Bitmine, and Bullish amid a broader cryptocurrency market downturn.Summary
Ark Invest demonstrated continued conviction in the crypto sector by purchasing shares in several related companies during a recent price decline. On Monday, the firm bought $9.4 million worth of Circle shares across two ETFs, $6.25 million in Bitmine, and $6 million in Bullish. Smaller purchases were also made in Block Inc. ($1.9 million) and Coinbase ($1.25 million). These purchases occurred as crypto-linked stocks experienced pullbacks mirroring the broader market decline; for instance, Circle fell 7.9% on Monday, and Bitcoin was down 10.9% over the preceding week. Ark Invest CEO Cathie Wood recently suggested that gold's price rally might precede Bitcoin's next bull run.
(Source：The Block)