Ark Invest Buys $21M in Block and $2.3M in SpaceX Shares

Cathie Wood’s Ark Invest bought $21 million in Block shares and $2.3 million in SpaceX stock on August 6, according to daily trading disclosures.

The asset manager acquired 267,676 shares of Block (formerly Square) and 20,318 shares of SpaceX, which went public in June under the ticker SPCX.

Block has been a long-term holding for Ark due to its direct exposure to bitcoin. The payments company holds bitcoin on its balance sheet and operates the Cash App, which allows users to buy and sell BTC. It also develops Bitkey hardware wallets and Proto bitcoin mining hardware.

SpaceX’s stock purchase comes roughly two months after its Nasdaq debut in the largest IPO in history. The company priced at $135 per share, raising about $75 billion at a near $1.8 trillion valuation, though shares have since pulled back.

The purchases extend Ark’s strategy of investing in companies tied to bitcoin’s adoption and Elon Musk’s business ecosystem.

Source: https://news.bitcoin.com/finance/cathie-wood-ark-invest-block-spacex-shares/