Ark Invest scoops up more Bitmine, Circle shares as crypto slump continues

Ark Invest, the investment management firm headed by Cathie Wood, has continued its contrarian ‘buy the dip’ strategy amidst a prolonged downturn in the digital asset space. Despite the ongoing cryptocurrency slump, marked by sustained low prices and regulatory uncertainty, Ark has significantly bolstered its holdings in key crypto-adjacent infrastructure companies, specifically Bitmine and Circle.

Investment records indicate that Ark’s flagship funds increased their positions in both entities throughout the recent quarter. The decision to accumulate shares now aligns with Ark’s core philosophy: investing heavily in disruptive technologies when market sentiment is at its lowest.

Bitmine, a prominent operator in the Bitcoin mining ecosystem, represents Ark’s continuing conviction that computational power and network security will remain profitable long-term assets, insulating them somewhat from short-term BTC price volatility. Similarly, the increased investment in Circle, the technology company responsible for the USDC stablecoin, underscores Ark’s belief in the necessity of regulated, stable financial infrastructure for the future of Web3 and global commerce.

Analysts view Ark’s sustained purchasing activity as a strong indicator of long-term belief in the sector, suggesting that current valuations offer a compelling entry point for investors focused on a five to ten-year horizon. While the macro environment remains challenging, Ark is effectively utilizing the slump to reinforce its portfolio base with what it considers foundational components of the future digital economy.

Source: Ark Invest scoops up more Bitmine, Circle shares as crypto slump continues