"Female Stock Goddess" contrarian buying of crypto concept stocks! Ark invests $55 million in BitMine and Coinbase

ARK1,01%

As the cryptocurrency market generally declined on Monday, Ark Invest, led by the “female stock goddess” Cathie Wood, once again demonstrated its “buy the dip” investment philosophy 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 — collectively purchased approximately $17 million worth of BitMine stock, $16.26 million of Coinbase stock, and $10.8 million of Circle stock on Monday.

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 holdings purchased by Ark Invest on Monday experienced a decline in stock price that day. Among them, the world’s largest Ethereum reserve company BitMine plummeted 11.22%, closing at $30.95; Coinbase fell 6.37% to $250.42; Circle retreated 9.60%, closing at $75.46; Block and Bullish decreased by 1.13% and 2.55%, respectively; and ARKB also dropped 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 “substantial 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.”


Disclaimer: This article is for market information only. All content and viewpoints are for reference only and do not constitute investment advice. They do not represent the objective views and stance of Block. Investors should make their own decisions and transactions. The author and Block shall not be responsible for any direct or indirect losses resulting from investor transactions.

Tags: ARK InvestARK Active Innovation ETFARKK Cathie WoodCIRCLE CoinbaseCRLUSDC Cryptocurrency Female Stock Goddess Bottom-fishing Ark Invest Wood Sister Concept Stocks Stablecoins

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