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Ark Invest is Buying Millions of GBTC Shares

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Today’s Cryptocurrency Headline

Cathie Wood’s Ark Investment Management is buying millions of dollars in GBTC stock. Ark Invest Management bought more than $1.4 million worth of GBTC stock on Monday and bought 315,259 GBTC shares worth $2.8 million last week. Ark currently holds nearly 6.357 million GBTC shares, accounting for 0.4% of the company’s total investment.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 1.91% over the last 24 hours and rose to an intraday high of $16,294.00. The largest cryptocurrency rebounded above the $16,000 price level today, but there is no clear signal that the price has reached the bottom. The liquidity issue of Digital Currency Group and Genesis Trading remains unresolved, investors need to maintain a risk-off stance against the potential bankruptcy of Genesis Trading. However, if Digital Currency Group and Genesis Trading solve their liquidity issue in the next few days, the BTC/USDT pair could rise to $17,500.

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