Ark Invest Buys the Dip, Stashing 997.73 BTC Worth $80.1M via Coinbase

Ark Invest has bought 997.73 BTC worth $80.1M via Coinbase today with the first transaction of 498 BTC and the second of 499 BTC. This is an ongoing Bitcoin accumulation strategy even amidst high market volatility as well as record BTC-ETF sales.

Ark Invest bought 997.73 BTC worth $80.1M via Coinbase today with the first transaction of 498 BTC and the second of 499 BTC.

This is an ongoing Bitcoin accumulation strategy even amidst high market volatility as well as record BTC-ETF sales.

Earlier this week, Ark Invest bought 370 BTC for its flagship Innovation fund (ARKK) during the second quarter, according to a recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC).

This purchase is part of an ongoing Bitcoin accumulation strategy by Ark Invest, despite high market volatility and record Bitcoin ETF sales.

The cryptocurrency market has been highly volatile in recent times, largely due to the economic uncertainty surrounding Donald Trump’s trade wars. However, despite this volatility, many major players are sticking to their investment strategies and not losing sight of the big picture.

This is evident in the recent purchase of 997.73 BTC by Ark Invest, split into two transactions of 498 BTC and a second 499 BTC via Coinbase. The purchase was part of a broader investment strategy by Ark Invest, which also saw them increase their stake in shares of Coinbase (COIN) by purchasing 64,358 shares worth approximately $11.53 million.

This now represents Ark Invest’s third-largest position in ARKK’s portfolio, accounting for ~7%.

Earlier this week, Ark Invest founder Cathie Wood said that she expects Bitcoin to hit $40,000 by the end of 2024.

Coinbase is a cryptocurrency exchange that allows users to buy, sell, and trade various digital assets. It is one of the largest cryptocurrency exchanges in the world, and its stock is publicly traded on Nasdaq.

Ark Invest is a well-known investment firm that focuses on disruptive technologies and innovation. The firm manages several exchange-traded funds (ETFs), including the Ark Innovation ETF (ARKK).

Ark Invest’s investment in Bitcoin and Coinbase is a continuation of the firm’s interest in the cryptocurrency sector. In the past, Ark Invest has been a vocal supporter of Bitcoin and other cryptocurrencies.

Ark Invest’s investments are closely watched by investors, as the firm has a history of successful investing in emerging technologies.

Ark Invest’s purchases of Bitcoin and Coinbase are a sign that major institutions are becoming increasingly interested in cryptocurrency. As more institutions enter the space, we can expect to see further price appreciation in cryptocurrencies.