Ark Invest took advantage of the Bitcoin decline by buying stocks.

Ark Invest, led by Cathie Wood, has seen the decline of Bitcoin prices below 90,000 dollars as an investment opportunity. In a recent move, a total of 21.5 million dollars was invested in crypto-focused company stocks. Ark Invest made its initial purchases of Coinbase (COIN), Circle Internet (CRCL), and Bullish (BLSH) shares, entering the market for these stocks.

Looking at the details of the investment, it is noteworthy that Ark Invest has so far purchased 129,446 shares of Circle through its Innovation (ARKK) and Blockchain and Fintech Innovation (ARKF) exchange-traded funds, forming a position worth 9.2 million dollars. Furthermore, Circle shares have currently lost about 10 percent of their value on a weekly basis, but Ark Invest sees this decline as a strategic entry point.

Additionally, purchasing 42,179 shares from Coinbase and 88,533 shares from Bullish resulted in a total value of 9.15 million dollars and 3.17 million dollars, respectively. The drop in Bitcoin prices below the 90,000 dollar threshold has provided Ark Invest the opportunity to expand its portfolio amidst daily losses in crypto-related stocks.

Last week, a general selling pressure was observed in the cryptocurrency market, with Bitcoin losing about 6 percent of its value on a weekly basis. Ark Invest's core strategy during this period is to buy when prices fall, aiming to capture long-term value. The company continues to view these market fluctuations as an opportunity to partner with technology and finance companies that have growth potential at a lower cost.