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Cathy Wood’s Ark Investment Management bought $43.5 million worth of shares in Coinbase and Circle amid a decline in crypto stocks.
Ark Invest, led by renowned investor Cathie Wood, has purchased $43.5 million worth of crypto-related stocks over the past three days, taking advantage of the decline in cryptocurrency company stock prices.Specifically, this included $18.6 million worth of Coinbase Global (NASDAQ: COIN) shares and $12.9 million worth of Circle Internet Group (NYSE: CRCL) shares. The purchases occurred as the stock prices of both companies fell alongside Bitcoin (BTC) earlier this week.At the same time, Ark Investment sold shares in Bitmine Immersion Technologies, Bullish, and Block. Analysts believe this move indicates that Wood is rotating capital within her crypto portfolio rather than abandoning the sector.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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