The investment manager, Ark Invest, which is known for buying the fall when the markets go south, bought Coinbase (Coin) 199,401 shares in the last three days.
The company of Cathie Wood bought 83,157 actions of cryptography exchange on Friday, followed by 84,514 and 31,730 on Mondays and Tuesdays, respectively, respectively, according to the daily statements sent by the company’s email. According to closing prices, the shares would have cost a total of $ 31.51 million. Now about $ 29.3 million are valued at the end of Tuesday.
The company based in St. Petersburg, based in Florida, aims to avoid having a particular tenure account for a weight of more than 10% of the total value of a fund quoted by the exchange (ETF). When a particular action falls, it presents a purchase opportunity for the ark.
Coinbase shares have fallen more than 15% in the last week, since cryptocurrency and capital markets fell after the steep import tariffs imposed by the president of the United States, Donald Trump.
BTC is around the 8% lower than a week, while the S&P 500 and Nasdaq have fallen more than 10%.
Read more: Cathie Wood’s ARK buys more than $ 13 million that are worth the shares of Coinbase during market defeat
