ARK Invest, a leading investment management firm, has made a massive Bitcoin ($BTC) buyout. As per Arkham, ARK Invest has recently acquired up to $80M in $BTC from Coinbase as a part of its continued aggressive Bitcoin accumulation. The crypto intelligence firm revealed this development on its official social media account.
ARK Invest Buys out $80M in $BTC as Included in Long-Term Accumulation Strategy
The on-chain data points out a couple of big transactions into ARKB 21Shares, the Bitcoin ETF of ARK Invest. In this respect, total $80M in Bitcoin moved from Coinbase to ARK Invest’s ETF. This event reportedly denotes the continuation of ARK Invest’s Bitcoin accumulation strategy. The initial transfer took into account 499.134 $BTC, accounting for a $40.37M in total. In addition to this, the 2nd transfer witnessed the movement of 498.6 $BTC, equaling overall $41.07. Hence, ARK Invest has now included an exclusive $80 amount in its $BTC holdings.
ARK Invest, which operates under the famous investor Cathie Wood, has long supported Bitcoin and its long-term potential. Based on this, the platform has frequently expanded its $BTC holdings, specifically in spot $BTC ETF ARKB 21Shares. The new inflows indicate surging confidence in Bitcoin, irrespective of the recent crypto volatility. Within the past month, the platform carried out several high-value Bitcoin transfers, aligning with a wider trend of Bitcoin adoption among institutions.
Bitcoin Buyout Aligns with Rising Institutional Demand
According to Arkham, ARK Invest’s latest buyout of $80M in $BTC highlights the platform’s long-term strategy. With a notable increase in institutional demand, this acquisition reinforces the platform’s position among the top institutional $BTC investors. Such large amounts reportedly influence the market significantly. Keeping this in view, the key players might follow suit, increasing their Bitcoin reserves.
