Investor Cathie Wood is accumulating crypto stocks amid a recession that has seen Bitcoin (BTC) fall to its lowest price since 2024.
Trade information from Ark Invest show Wood’s funds bought additional shares in crypto-related companies when Bitcoin fell below $80,000.
The company now owns $3.9 million of its exchange-traded fund (ETF) ARK Bitcoin Holding Company (ARKB), $6.2 million of institutional-focused cryptocurrency exchange Bullish (BLSH), $6.4 million of blockchain company Bitmine Immersion Technologies (BMNR), $1.3 million of crypto exchange Coinbase (COIN), $9.6 million of financial technology company Circle Internet Group (CRCL), and $33.5 million of financial services firm Robinhood (HOOD).
Ark Invest also has $5.5 million from defense technology company AeroVironment (AVAV), $15.1 million from construction and mining equipment manufacturer Caterpillar (CAT) and $15 million from artificial intelligence (AI) cloud computing company CoreWeave (CRWV).
Wood is optimistic that Bitcoin will cross the million dollar mark in a few years. In a recent interview with CNBC, she said the price of the king coin could reach $1.2 million by 2030.
Her company is buying crypto stocks as BTC fell to a low of $72,882.55 this week. The flagship crypto asset is currently trading at $76,061, down 3.01% in the past 24 hours.
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