Cathie Wood sells Bitcoin, buys $5.2 million of sinking stock
BTC when published $79,907Now $80,568 ▲ +0.83% since it was published
Bitcoin slipped below $80,000 on Oct. 27 as traders reduced risk ahead of the Federal Reserve’s interest rate call tomorrow. While the leading cryptocurrency fell to around $79,800 at press time, Cathie Wood’s ARK Invest yesterday trimmed exposure to its Bitcoin ETF while buying more shares of the stablecoin giant Circle Internet Group (NYSE: CRCL). ARK has not said Bitcoin’s recent decline motivated the trades, and the transactions do not indicate a reversal of Wood’s long-standing bullish Bitcoin view. Related: Mark Cuban puts Bitcoin and Apple in the same bucket Cathie Wood's Ark trims Bitcoin ETF stake and adds Circle Ark bought 65,615 Circle shares on Monday through its ARK Next Generation Internet ETF, or ARKW. At Circle’s $79.84 closing price, the purchase was worth roughly $5.2 million.
First reported by TheStreet. This page is a short excerpt; the full text is theirs.
