Has Bitcoin Bottomed? $80 Million BTC Move from Ark Invest!

Famous Bitcoin bull Cathie Wood's company Ark Invest purchased 997 BTC worth $80 million.

According to Arkam Intelligence data, the Bitcoin purchase was made in two transactions via Coinbase on March 13. Accordingly, 498 BTC was purchased in the first purchase, and 499 BTC was purchased in the second purchase made four hours later.

This move shows that ARK Invest has continued confidence in Bitcoin and that the market continues to be supported by institutional investors.

In addition to Bitcoin, Ark Invest also recently purchased Coinbase (COIN) stock. Accordingly, the company purchased 64,358 Coinbase shares worth approximately $11.53 million. This is its largest investment in Coinbase stock since August 2024.

Cathie Wood, one of Bitcoin's biggest supporters, predicts that the BTC price will reach $1 million by 2030.

While the Bitcoin price has continued to fluctuate in recent days, BTC purchases by large companies such as ARK Invest are seen as a positive signal for the market recovery.

https://twitter.com/arkham/status/1900247518702665885

*This is not investment advice.