Cathie Wood's Ark Invest Doubles In Acquiring Bitcoin (BTC) Dip Di

While Tuesday's Bitcoin (BTC) price plunged to $29,092, baffling retail investors, institutions like Ark Invest are doubling down on their efforts to buy the dips. According to recent reports, Cathie Wood's Ark Invest has benefited from the drop in BTC. The Ark Generation Internet ETF (ARKW) ETF has acquired more than one million additional shares of Grayscale Bitcoin Trust (GBTC) worth $29.3 billion. The Grayscale Bitcoin Trust (GBTC) provides institutional players with indirect exposure to Bitcoin in a regulated environment. GBTC (OTCMKTS: GBTC) stock reversed its momentum on Tuesday, closing 1.12% at $28.01 after falling nearly 20% in the last five trading sessions. With Tuesday's acquisition, the ARKW ETF fund now has more than 8.5 million shares worth $238.8 million. Cathie Wood of Ark Invest believes strongly in Bitcoin and is very confident in the future. Wood also believes that the arrival of the Bitcoin ETF will completely change the market dynamics in favor of Bitcoin investors. On the other hand, Cathie Wood's Ark Invest is aggressively investing in publicly traded cryptocurrency companies like Coinbase (NASDAQ:COIN). Ark Invest Snaps 214,718 COIN Shares In addition to GBTC's shares, Ark Invest also acquired a large number of Coinbase shares. As Benzinga reports, the investment firm has purchased 214,718 COIN shares worth $47.7 million. Since the public listing on April 14, 2021, COIN shares have adjusted more than 30%. On Tuesday, the COIN share price dropped to $210 in the early trading session, but it bottomed out towards the end of the trading session. The recent acquisition of COIN stock by Ark Invest comes from the most popular Ark Innovation ETF (ARKK). Ark currently owns 4.7 million COIN shares with a total investment of over $1 billion. The recent correction in BTC price has provided investors with a great opportunity to bottom fish and institutions where players are fast

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