ARK Invest increases positions in crypto company shares
Against the backdrop of the bitcoin price correction below the psychological mark of $66,000, the well-known investment fund ARK Invest by Cathie Wood continues to increase its positions in the shares of cryptocurrency companies. According to Cointelegraph, ARK bought nearly $50 million worth of Robinhood, Bullish and Circle shares.
The decline in the price of bitcoin, which has been continuing for several weeks, coincided with an outflow of funds from bitcoin ETFs traded on US exchanges. Over the past week alone, their volume decreased by $276 million. At the same time, ARK Invest, which specializes in investing in high-tech companies, including cryptocurrencies, is, on the contrary, increasing its positions.
Thus, Cathie Wood, known for her bold bets on tech companies, demonstrates confidence in the long-term prospects of the cryptocurrency market. Despite short-term fluctuations in the bitcoin exchange rate, she continues to adhere to her view on the growing role of digital assets in the future.
Experts believe that such actions by large institutional investors can provide support to the cryptocurrency market during periods of correction. Despite the difficult macroeconomic situation, the interest in digital assets among professional players remains.