Cathie Wood’s ARK resumes Coinbase buying as BTC drops below $50K
ARK Invest is back to buying the Coinbase stock after a long selling period. On Aug. 5, ARK bagged 93,797 shares of the crypto exchange for $17.8 million.
Update Aug. 6, 11:40 am UTC: The article has been updated to reflect the correct number of shares bought by ARK Invest on Aug. 5.
Cathie Wood’s investment firm ARK Invest is back to buying the Coinbase stock amid a major market sell-off, with Bitcoin briefly dropping below $50,000.
On Aug. 5, ARK purchased 93,797 Coinbase shares, resuming buying after a long period of dumping the stock in 2024.
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Author: Helen Partz
