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Ark Invest, a hedge fund focused on innovative developments, has bought $19,872,939 worth of bitcoin according to a filing with the Securities and Exchanges Commission.
The ARK Cryptocurrency U.S. Fund LLC requires a minimum investment of one million dollars, with it raising this near $20 million from 12 investors according to Kellen Carter, the Chief Compliance Officer at Ark Invest.
Cathie Wood, the CEO of Ark Investment has maintained that bitcoin will likely rise following this dip which saw a 50% fall in price.
Such falls are not unusual and can be very healthy to tamper mania during bull runs with it looking like sophisticated investors are now back to accumulating.
