ARK Invest, a hedge fund focused on innovative developments, purchased Bitcoin worth $ 19,872,939, according to a U.S. Securities and Exchanges Commission (SEC) file.
According to Ark Invest’s Chief Compliance Officer, Kellen Carter, ARK Cryptocurrency US Fund LLC requires a minimum investment of $ 1 million and close to $ 20 million has been raised from 12 investors.
Cathie Wood, CEO of Ark Investment, thinks Bitcoin will likely rise after a drop of up to 50%. It has been noted that such drops are not uncommon and can be healthy for reaching a state of mania during bull running.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.