As the cryptocurrency market generally declined on Monday, Ark Invest, led by the “Female Stock Goddess” Cathie Wood, once again demonstrated the investment philosophy of “buying on dips” by investing over $55 million in multiple crypto-related stocks including BitMine, Coinbase, and Circle.
According to the latest disclosed trading records, Ark Invest, through its three active ETFs — ARKK, ARKW, and ARKF — bought approximately $17 million worth of BitMine stock, $16.26 million of Coinbase stock, and $10.8 million of Circle stock.
At the same time, Ark Invest also increased its holdings by purchasing $5.94 million of Block Inc. (formerly Square), $5.2 million of Bullish shares, and invested $1.24 million in its own issued Ark-21Shares Bitcoin Spot ETF (ARKB).
Notably, all six crypto-related assets purchased by Ark Invest on Monday experienced a decline in their stock prices that day. Among them, the world’s largest Ethereum reserve company BitMine plummeted 11.22%, closing at $30.95; Coinbase dropped 6.37% to $250.42; Circle retreated 9.60%, closing at $75.46; Block and Bullish fell by 1.13% and 2.55%, respectively; and ARKB also declined by 4.91%.
Cathie Wood recently reiterated that she has observed a “deflationary undercurrent” emerging from innovative emerging technologies and expects that inflation could see a “substantive turning point” within the next year.
Ark Invest’s aggressive buying of crypto-related stocks during the market downturn indicates that the company views this market correction as a temporary price fluctuation and remains firmly committed to the “long-term trend remains unchanged, and short-term corrections are opportunities.”
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Tags: ARK InvestARK Active Innovation ETFARKK Cathie WoodCIRCLE CoinbaseCRLUSDC Crypto Female Stock Goddess Bottom-fishing Ark Invest Wood Sister Concept Stocks Stablecoins
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