Ark Invest increases its holdings in stocks such as BitMine, Coinbase, and Circle on dips

According to The Block, the cryptocurrency market saw a widespread decline on Monday, while Cathie Wood's Ark Invest took the opposite approach by heavily buying related stocks. According to trading documents, Ark purchased a total of $17 million in BitMine stocks, $16.26 million in Coinbase stocks, and $10.8 million in Circle stocks through its three ETFs (ARKK, ARKW, ARKF), along with an additional $5.94 million in Block and $5.2 million in Bullish exchange stocks.

On that day, all these stocks fell: BitMine plummeted 11.22%, Coinbase dropped 6.37%, and Circle fell 9.60%. Bitcoin decreased by 4.08% to $85,799, while Ethereum fell by 5.74% to $2,931. Earlier this month, Wood predicted that due to new technological innovations, inflation might see a real breakthrough next year, indicating her long-term optimism for the cryptocurrency market.