Ark Invest has capitalized on the recent downturn in the crypto market by purchasing over $24 million in crypto-related stocks. The investment firm acquired $9.4 million in Circle stock, $6.25 million in Bitmine stock, and $6 million in Bullish stock. Additionally, Ark slightly increased its holdings in Block Inc. and Coinbase by $1.9 million and $1.25 million, respectively. Despite the strategic acquisitions, crypto stocks have been under pressure, with Circle shares dropping 7.9%, Bitmine falling 9%, and Bullish declining 4.7% on Monday. Coinbase also saw a 3.5% decrease. Meanwhile, Bitcoin is trading at $78,641, down 10.9% over the past week, and Ethereum has fallen 20% to $2,331. Ark Invest CEO Cathie Wood suggested that the recent rise in gold prices could herald a new bull market for Bitcoin, citing a historical correlation between the two assets.
Ark Invest Acquires $24 Million in Crypto Stocks Amid Market Dip
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