Investor Cathie Wood is amassing crypto stocks amid a downturn that saw Bitcoin (BTC) plunge to its lowest price since 2024.
Ark Invest’s trade disclosures show Wood’s funds bought additional shares in crypto-related firms as Bitcoin dips below $80,000.
The company now holds $3.9 million of its exchange-traded fund (ETF) ARK Bitcoin Holding Company (ARKB), $6.2 million of the institutional-focused cryptocurrency exchange Bullish (BLSH), $6.4 million of the blockchain company Bitmine Immersion Technologies (BMNR), $1.3 million of the crypto exchange Coinbase (COIN), $9.6 million of the financial technology firm Circle Internet Group (CRCL) and $33.5 million of the financial services company Robinhood (HOOD).
Ark Invest also has $5.5 million of the defense technology company AeroVironment (AVAV), $15.1 million of the construction and mining equipment manufacturer Caterpillar (CAT) and $15 million of the artificial intelligence (AI) cloud-computing company CoreWeave (CRWV).
Wood is bullish that Bitcoin will breach the million-dollar mark in a few years. In a recent interview with CNBC, she said the price of the king coin could hit $1.2 million by 2030.
Her company is buying crypto stocks as BTC dropped to a low of $72,882.55 this week. The flagship crypto asset is currently trading for $76,061, down by 3.01% over the past 24 hours.
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