Cathie Wood and ARK Invest Long Bitcoin for First Time Since July 2021 With Big GBTC Purchase: Report

Cathie Wood and ARK Invest Long Bitcoin for First Time Since July 2021 With Big GBTC Purchase: Report


Cathie Wood’s investment management firm ARK Invest is buying up more shares of the Grayscale Bitcoin Trust (GBTC) for the first time in over a year.

According to public data from ARK, the firm purchased 273,327 shares of the Bitcoin (BTC)-based investment product on November 15.

ARK made a second purchase on Monday of 176,945 shares, bringing the total number of GBTC shares the firm has to 6,546,000. The buys are ARK’s first since July 2021, when GBTC was almost three times more expensive.

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GBTC is meant to track the price of Bitcoin but often trades at a premium during rallies and discounts during bear markets. At time of writing, GBTC is trading at a 44% discount, its largest in history.

Wood, a longtime Bitcoin

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