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While other institutions are selling, ARK Invest is buying. The firm purchased nearly $80 million worth of Bitcoin in multiple transactions on Wednesday, according to blockchain analytics platform Arkham Intelligence . The Bitcoin buys came via Coinbase. The most significant recorded transfer was 499.134 BTC, worth $40.37 million. Shortly after, another 498.6 BTC, worth $41.07 million, followed. This accumulation reinforces ARK’s commitment to Bitcoin investment through its ARKB 21Shares ETF. In addition to Bitcoin purchases, ARK Invest increased its stake in Coinbase (COIN) stock. The firm acquired 64,358 shares valued at approximately $11.53 million. This marks its largest Coinbase investment since August 2024. Institutional investors have been crucial in Bitcoin’s market dynamics. But while ARK Invest has been accumulating Bitcoin, overall institutional outflows from spot Bitcoin ETFs have reached $1.1 billion in recent weeks. ARK itself sold $9 million worth of Bitcoin ETFs, aligning with a broader trend of institutions adjusting their holdings. Related: Standard Chartered: Bitcoin Correction Linked to Stock Market Dip The outflows from Bitcoin ETFs mirrored the major correction in the spot market, with Bitcoin dropping to $76K. Multiple factors have influenced the selling pressure in the crypto market, including a declining U.S. stock market, inflation concerns, and trade policy uncertainties. These elements have contributed to Bitcoin’s price fluctuations. While Bitcoin briefly recovered to over $84K after the $76K low, it has since slipped to $79K in the last 24 hours. Related: Bitcoin ETF Inflows: A False Dawn Before a Price Correction—Price Analysis Despite the current volatility, ARK Invest CEO Cathie Wood remains firmly optimistic about Bitcoin’s long-term potential. She has previously predicted that Bitcoin could reach $1 million per coin by 2030. She further cited growing institutional adoption and macroeconomic shifts as key drivers. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Congressman Gerald E. Connolly, Ranking Member of the House Committee on Oversight and Government Reform, has urged the U.S. Department of Treasury to abandon plans for a strategic cryptocurrency reserve. In a letter to Treasury Secretary Scott Bessent, Connolly criticized President Donald Trump’s recent executive orders on the matter, arguing they would primarily benefit Trump and his associates. “Such a reserve provides no discernible benefit to the American people but would significantly enrich the President and his donors,” the lawmaker claimed, adding: It would also constitute unsound fiscal policy by picking winners among currencies via social media and wasting taxpayer dollars on a plan that one federal reserve official described as ‘the dumbest idea’ ever. “I urge you to cease all attempts to create the strategic cryptocurrency reserve,” he stressed. Connolly expressed concerns over the lack of congressional consultation and questioned the legality of the initiative. Trump recently signed an executive order establishing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” aiming to position the United States as a leader in digital asset strategy. He also announced via Truth Social a crypto reserve that includes bitcoin (BTC), ethereum (ETH), XRP, Solana (SOL), and cardano (ADA). Connolly’s letter underscores that Trump has not sought congressional approval for the reserve, raising concerns about executive overreach. Connolly also highlighted Trump’s financial interests, noting his significant stake in World Liberty Financial, a cryptocurrency firm aiming to function as a digital asset bank, and his involvement in the TRUMP memecoin, which has reportedly generated $100 million in trading fees. He concluded: The creation of a strategic cryptocurrency reserve is poised to enrich the President and his closest allies at the expense of American taxpayers. I urge you to cease all plans to create a strategic cryptocurrency reserve. He asked the Treasury to brief the Committee on Oversight and Government Reform staff and requested a response by March 27. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Mesh is cold on wire transfers. The CEO says he prefers to receive VC funds via stablecoins.

Many prominent crypto companies are signaling the pivot back to “fundamentals” via token buybacks

Trump's attempt at diminishing the relevance of the dollar as global reserve currency, a direct consequence of reducing trade deficits via tariffs, increases the long term attractiveness of bitcoin. Few