Ark Invest Buys $21.5M in Crypto Stocks Amid Bitcoin Dip Below $90K

Investment firm Ark Invest, led by Cathie Wood, made a significant purchase of crypto-related company shares worth $21.5 million. This strategic buying occurred during a market downturn as the price of Bitcoin (BTC) fell below the $90,000 threshold. The acquired shares included positions in companies like Coinbase (COIN) and the Grayscale Bitcoin Trust (GBTC), signaling continued institutional confidence. Analysts view this move as a classic "buy the dip" strategy, highlighting Ark's long-term bullish stance on the cryptocurrency ecosystem despite short-term price volatility. This activity underscores a growing trend of institutional investment flowing into the crypto sector during market corrections.