Cathie Wood’s Ark Invest Management has once again demonstrated its unwavering conviction in the digital asset sector, executing major purchases of Coinbase Global (COIN) and Marathon Digital Holdings (MARA), commonly referred to as BitMine, shares following a sharp correction in the price of Bitcoin (BTC).
This aggressive ‘buy the dip’ strategy unfolded as Bitcoin prices experienced significant volatility, dropping below key psychological and technical support levels. Ark utilized several of its flagship exchange-traded funds (ETFs), including the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW), to increase its exposure to crypto infrastructure despite the short-term market distress.
The purchases highlight Ark’s long-term investment thesis: that companies providing the necessary services and infrastructure for the crypto ecosystem—regardless of near-term price swings—are fundamentally undervalued during market downturns. Coinbase, as the leading U.S. cryptocurrency exchange, and Marathon Digital, a key player in Bitcoin mining, are viewed by the firm as critical components of the burgeoning digital economy.
Ark Invest’s commitment is a notable contrarian move, positioning the firm to capitalize on an eventual market recovery. Wood has previously articulated that market corrections offer essential opportunities to accumulate shares in high-conviction assets, reaffirming her belief that institutional adoption and technological advancement will ultimately drive Bitcoin and associated companies to new highs.
Source: Cathie Wood’s Ark Invest Doubles Down on BitMine, Coinbase Stocks Amid Bitcoin Plunge
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