Cathie Wood Invested 72 Million Dollars Amid Bitcoin Drop

The recent activity in global cryptocurrency markets is catching the attention of investors. Especially the drop in Bitcoin price below 75,000 dollars is offering new opportunities for many investors to buy. Notably, ARK Invest, managed by the famous investor Cathie Wood, has made approximately 72 million dollars worth of stock purchases focused on crypto during this process.

Despite the gloomy atmosphere in the markets, ARK Invest has drawn attention by making significant investments in the stocks of companies related to Bitcoin. The company’s strategy is to take advantage of the fluctuations in Bitcoin price to create a long-term position. In Monday’s transactions, ARK Invest made a total of 72 million dollars in purchases through its ARKF, ARKK, and ARKW funds.

The investment package includes important names that stand out in the industry. The temporary decline of Bitcoin price below 75,000 dollars has led to a general depreciation in crypto-related stocks. However, ARK Invest sees this situation as a buying opportunity. Most of the purchases consist of 32.7 million dollars worth of Robinhood (HOOD) shares, while 14.6 million dollars worth of CoreWeave (CRWV) shares comes in second. Additionally, 9.4 million dollars of Circle (CRCL) and 6.3 million dollars of Bitmine (BMNR) shares have also been added to the portfolio.

Cathie Wood believes that after the fluctuations in Bitcoin price, there will be stronger adoption and an increase in transaction volume. These purchases, consistent with her strategy, reflect an approach of buying on dips. ARK Invest previously made a similar move when Bitcoin price dropped below 90,000 dollars at the end of January, making a purchase of 21.5 million dollars at that time.

As a result, ARK Invest’s strategic move is seen as a reflection of confidence in the crypto ecosystem. The company continues to view temporary weaknesses in the market as accumulation opportunities for potential future increases. Investors should closely follow these developments and evaluate market dynamics.