Despite a tough crypto winter in 2022 Bitcoin (BTC) and cryptocurrencies keeping the trust Ark Invest CEO Cathie Woodcontinues to buy the shares of the Coinbase exchange from the bottom levels.
bitcoin And altocinContinuing to make purchases in the face of the decline experienced yesterday, Ark Invest added more than 353,000 to its two funds. coinbase added shares.
According to the latest acquisition statement by Ark Invest, the company 301,437 Coinbase shares to the Ark Innovation ETF and 52,525 Coinbase shares to the Ark Next Generation Internet added.
This acquisition was found to be worth just over $20 million.
Coinbase stock closed at $58.09 after a 7.8% drop yesterday.
Ark Invest recently bought shares of Coinbase and Robinhood exchanges.
Ark Invest, which bought $2.44 million worth of shares from Coinbase, received $9.97 million worth of Robinhood shares.
In the previous purchase of Ark Invest, Coinbase shares were trading at $61.89, while Robinhood shares were trading at $9.42.
Considering that there is a correlation between Coinbase stock and Bitcoin, and Ark Invest’s purchase of Coinbase shares at regular intervals, Ark Invest’s collection of Coinbase shares continues to be interpreted as a bullish expectation in Bitcoin.
*Not investment advice.
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