BitcoinWarrior

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Cathie Wood’s Ark Invest Isn’t Done Selling Shares Of Jack Dorsey-Led Block Yet — Sheds $7.5M Worth of Stock As Bitcoin Price Drops

On Tuesday, Cathie Wood-led Ark Invest offloaded a significant amount of Block Inc (NYSE:SQ) shares amidst a downturn in Bitcoin (CRYPTO: BTC) prices. The Block Inc Trade Ark Invest’s decision to sell off Block shares came as a surprise to many, given the company’s strong ties to the cryptocurrency market. The sale was executed through Ark’s flagship ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW) with a total of 9,437 shares sold. The value of the trade, calculated from the latest closing price of $79.32, amounted to approximately $7.5 million. This is the seco…