On Thursday, Cathie Wood’s Ark Invest purchased further shares of Coinbase (COIN) for $5 million, demonstrating her continued belief in the cryptocurrency exchange despite the decline in the value of its stock. On Thursday, it fell 11% to settle at $33.53. In 2022, it decreased by approximately 90%.
27,813 COIN shares were purchased by ARK’s ARKW fund, or ARK Next Generation Internet ETF.
144,463 shares of Coin were purchased by ARFK, or ARK Fintech Innovation EFT.
Her dip-buying purchases are raising questions among the investors, as most of the investors believe she will end up holding the bag. But on the other end, investors are confident she will end up with diamond hands.
