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Ark Invest's $18M Stake in Circle Amid Rival Stablecoin Launch
Circle dropped 1% today after falling nearly 18% on Tuesday following the launch of the rival stablecoin project OUSD.
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Circle dropped 1% today after falling nearly 18% on Tuesday following the launch of the rival stablecoin project OUSD.
Ark Invest has a tendency to "buy the dip," loading up on shares in cryptocurrency companies when their prices are depressed.
ARK Invest's biggest crypto stock purchases over the past three trading days were Coinbase and Circle, whose shares have fallen 17% and 27.6%, respectively, over the past month.
Ark bought $6.85 million worth of Coinbase, $6.21 million worth of Circle Internet Group, and $3.54 million in Bullish on Monday.
The same day, Wood noted that inflation is on its way down, pointing to rising productivity as a key disinflationary force.