Cathie Wood's ARK buys over $70 million of crypto stocks as bitcoin slides
ARK Invest purchased about $72 million in crypto-related stocks across its funds during a market dip when Bitcoin fell below $75,000.Summary
Cathie Wood's ARK Invest acted as a dip buyer, acquiring approximately $72 million worth of crypto stocks across its various funds as Bitcoin briefly dropped below $75,000, causing widespread losses in crypto-linked equities. The purchases targeted exchanges, brokerages, and infrastructure providers, including significant buys in Robinhood ($32.7M), CoreWeave ($14.6M), Circle ($9.4M), and Coinbase ($1.3M). This strategy aligns with ARK's long-term approach of capitalizing on weakness tied to crypto volatility, anticipating future adoption and higher transaction volumes. This recent buying follows similar purchases in late January when Bitcoin slid under $90,000, and supports CEO Cathie Wood's view that Bitcoin serves as a strong diversification tool for investors.
(Source：CoinDesk)