ARK Invest Buys $70M in Crypto Stocks Amid Bitcoin Price Drop: Cathie Wood's Bold Move

Investment firm ARK Invest, led by renowned investor Cathie Wood, has made a significant purchase of crypto-related stocks worth over $70 million. This buying spree occurred even as the price of Bitcoin (BTC) experienced a notable decline. The move is seen by many analysts as a contrarian investment strategy, demonstrating ARK's continued confidence in the long-term potential of the cryptocurrency and blockchain sector. The purchased stocks include shares in companies like Coinbase (COIN) and the Grayscale Bitcoin Trust (GBTC). This aggressive accumulation during a market dip highlights ARK's strategy of "buying the dip" and could signal a bullish outlook for the crypto market's recovery. Investors are closely watching these moves from one of the most prominent voices in disruptive innovation.