Ark Invest buys $14m in Coinbase stock despite crypto dip

Ark Invest by Cathie Wood has added more Coinbase actions while the entire market linked to cryptography continued its slowdown.

Invested ark acquired 64,358 Coinbase shares for a total of $ 13,994,646, according to Investing.com.

Ark has regularly increased its Coinbase participations, investing a total of $ 28.2 million in the past three weeks. The company’s flagship Fund of the company now holds Coinbase as its third active, while the ARKF ranks it as its second largest.

In February, Ark Investid bought 41,032 Coinbase actions worth $ 9.3 million as technological and bitcoin (BTC) refused. This decision occurred two months after the company sold $ 4.3 million in Coinbase shares in December.

Wood Cathie had previously foreseen This bitcoin could reach $ 1 million by 2030, citing its fixed supply ceiling of 21 million. It underlined the growing institutional demand and the rarity of Bitcoin as key factors stimulating its value.

The recent drop in crypto stocks saw microstrategy drop by 16.7% and Digital marathon hush 16.3%. Bitcoin himself slipped 7.6%, dragging the larger market.

At the time of writing this document, Coinbase was negotiating $ 179.23 in pre-commercial trading, up 3%.