ARK Invest Bought $22 M Worth of Bitcoin

New York-based investment management company ARK Invest, which is focused on innovations, put $22 million into Bitcoin.

Related: China Restates BTC Mining and Trading Crackdown

The investment is shown in the company's daily purchase report that publishes trades carried out through ETFs.

On May 23, the ARK Next Generation Internet ETF bought 516.001 shares of the Grayscale Bitcoin Trust with the total sum of $17 M as the fund's closing price indicates. A day later the ETF traded another 181,995 shares with a total sum of $5.7 million.

ARK Invest's BTC purchase came at a moment when the price of the leading cryptocurrency is far from its all-time high.

Bitcoin's price fell significantly after Tesla stopped accepting payment in it. The CEO of the company Elon Musk expressed his concerns about the environmental issues coming from BTC mining. Afterwards, China made crypto regulations stricter and reiterated the mining crackdown.

However, ARK Invest and its CEO and CIO Cathie Wood don't share that opinion. On May 24, the company published a paper, where it wrote how Bitcoin mining could boost the adoption of renewable energy. Currently, Bitcoin is traded at around $39.000 with a market cap of over $719.3 B.