Bitcoin Updates: Ark Invest Increases Crypto Portfolio by $39.6M During Market Downturn, Shows Confidence in Future Growth
- U.S. crypto stocks fell 1.45%-4.48% pre-market on Nov 21, mirroring Bitcoin's $91,600 drop and $3.79B ETF outflows. - Ark Invest defied the selloff by adding $39.6M to Bullish, Circle , and Bitmine shares, betting on long-term crypto value. - MicroStrategy's $1.5B Bitcoin accumulation contrasts with its 60% stock decline amid dilution concerns and leveraged liquidations. - Bitmine defends crypto's 12-36 month recovery timeline, citing Ethereum upgrades and asset tokenization potential. - AI/HPC miners su
On November 21, U.S. crypto-related stocks continued to slide in pre-market trading, with major players deepening their losses amid ongoing market instability. MicroStrategy (MSTR) dropped 4.48%, while
In contrast, Ark Invest took an opposing stance, increasing its exposure to crypto-related stocks by $39.6 million as prices fell. On November 20, the firm acquired 463,598 shares of Bullish (BLSH), 216,019 shares of Circle (CRCL), and 260,651 shares of Bitmine (BMNR),
Across the broader crypto landscape, U.S.-listed spot
At the same time,
Volatility in the crypto market has also affected AI and HPC-focused bitcoin miners, which rallied in pre-market trading after NVIDIA’s strong earnings report. IREN (IREN) and Cipher Mining (CIFR) surged by more than 8% and 11%, respectively,
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