Foto: T. Schneider/Shutterstock
While many investors are exiting the market this week, Ark Invest is taking the opposite approach. As crypto prices tumble again, the investment firm led by Cathie Wood is buying up more shares in major crypto companies. For the second consecutive day, Ark has invested nearly $40 million into firms like Coinbase, Circle, and BitMine. While many investors feel panic, Wood continues to see opportunities to buy the dip.
Major Purchases as the Market Declines #
On Thursday, Ark Invest purchased another $38.7 million (€33.5 million) worth of shares in companies active in the crypto sector. The largest portion went to Coinbase, with over 42,000 new shares acquired. Coinbase, one of the world’s most well-known crypto exchanges, saw a significant drop that day.
Additionally, they bought a large number of shares in Bitmine Immersion Technologies, Circle Internet Group, and Bullish. Bitmine produces cooling systems for Bitcoin and Ethereum miners, while Circle is known as the issuer of the USDC stablecoin. Despite declines of four to ten percent, Ark expanded all of these positions.
Notably, Ark did the exact same thing the day before. The firm also bought nearly $40 million in shares of the same companies. With this, Wood makes it clear that she views this dip as a buying opportunity.
Same Strategy as Last Week #
These new investments are in line with a series of purchases Ark made last week. At that time, the firm already poured tens of millions into Circle, BitMine, and Bullish, precisely when the market was falling sharply. Circle lost almost five percent, and BitMine and Bullish nearly ten percent, but Wood did not see this as a warning.
The fund even sold a large portion of its Tesla shares to make more room for increased crypto exposure. This shows Ark Invest is continuing to shift its focus toward companies that Wood believes will play a key role in the future of crypto.
Ark Invest is clearly playing the long game. While the market seems uncertain and whales begin taking profits, Wood is building up her positions. Whether this proves to be a smart move will become clear in the coming months. But her confidence in the crypto sector has been reaffirmed once again.