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Ark Investment Invests $20M in Bitcoin (BTC), Despite the Chaos

Cathie Wood's Ark Investment has purchased $19,872,939 worth of bitcoin. Opportunist Investors regard the recent drop in bitcoin price to accumulate BTC at a relatively low cost. Likewise, taking the opportunity to purchase bitcoin at a low price, Cathie Wood's Ark Invest invested almost $20 million.

 

"According to a filing with [the U.S. Securities and Exchange Commission], Ark Invest, a hedge fund focusing on innovative development, has purchased $19,872,939 worth in bitcoin," BTC Manager reported, without revealing a specific time of the investment.

 

Wood has been a believer and a strong advocate for bitcoin, saying that the asset's $1 trillion market capitalization is nothing compared to where this will ultimately be. The decision of Ark Invest might prompt or signal other institutions' plans to do the same.

 

"Blockchain data discloses that major investors remain positive about long-term projections and collect coins on dumps," per BTC Manager. "Cathie Wood said that bitcoin is likely to rise after the recent price drop. These drops are not uncommon, and they can be very healthy to exploit during bull runs, so erudite investors are now returning to accumulate."

 

Many institutions like Tesla, Meitu and Square made considerable bitcoin investments.