ARK Invest, led by CEO Cathie Wood, expands its cryptocurrency investments, allocating $80 million to acquire bitcoin.
ARK Invest's Bitcoin Acquisition
On March 13, 2025, ARK Invest acquired 997 bitcoins valued at approximately $80 million through the Coinbase exchange. The transaction included two transfers: the first for 498 bitcoins and the second adding an additional 499 bitcoins less than four hours later. This acquisition highlights the firm's confidence in bitcoin's future potential.
Investments in Coinbase Stock
In August 2024, ARK Invest purchased 64,358 shares of Coinbase worth $11.53 million, marking its largest investment in the company since then. ARK Invest continues to strategically strengthen its positions in Coinbase stock, reflecting a long-term confidence in the cryptocurrency sector.
Bitcoin Market Dynamics
As of March 14, 2025, bitcoin's price stands at $81,911, showing a 2.04% decrease from the previous day. Resistance is at $83,700, while potential support could be seen at $75,000. Despite the volatility, Cathie Wood and other long-term investors remain optimistic about bitcoin's future, with predictions of it reaching $1 million by 2030.
ARK Invest's strategic investments in bitcoin and Coinbase affirm the company's long-term confidence in crypto assets amid a volatile market.
