Cathie Wood's Ark Invest Buys $30 Million in Circle Shares Ahead of Potential Arc Token

Ark Invest, led by Cathie Wood, has acquired around $30 million worth of shares in Circle, the issuer of the USDC stablecoin. This purchase adds to the firm's total holdings of approximately 3 million shares, valued at around $255 million. The buy comes as Circle's share price has recently dropped nearly 38%, now trading at approximately $86.21, the lowest since its IPO. Despite a strong revenue report showing $740 million for Q3, a 66% year-over-year increase, shares have continued to decline amid market volatility. Wood's investment aligns with a similar strategy employed last week, where Ark Invest increased its stake in BitMine Immersion Technologies amid its dip in price. This move highlights Ark's ongoing focus on technology and cryptocurrency investments.

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