Bitcoin Updates: Ark Invest Increases Crypto Portfolio by $39.6M During Market Downturn, Shows Confidence in Future Growth

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Bitget-RWA2025/11/21 12:38

By:Bitget-RWA

- U.S. crypto stocks fell 1.45%-4.48% pre-market on Nov 21, mirroring Bitcoin's $91,600 drop and $3.79B ETF outflows. - Ark Invest defied the selloff by adding $39.6M to Bullish, Circle , and Bitmine shares, betting on long-term crypto value. - MicroStrategy's $1.5B Bitcoin accumulation contrasts with its 60% stock decline amid dilution concerns and leveraged liquidations. - Bitmine defends crypto's 12-36 month recovery timeline, citing Ethereum upgrades and asset tokenization potential. - AI/HPC miners su

On November 21, U.S. crypto-related stocks continued to slide in pre-market trading, with major players deepening their losses amid ongoing market instability. MicroStrategy (MSTR) dropped 4.48%, while

Circle

(CRCL),

Coinbase

(COIN), and

Bitmine Immersion

(BMNR) declined by 1.45%, 2.54%, and 3.5%, respectively. These losses reflected a wider downturn in the crypto sector, as

Bitcoin (BTC-USD) slipped below $91,600

, approaching its weakest monthly result since 2022. Similar negative momentum was seen earlier in the month, with MARA Holdings (MARA) and Riot Platforms (RIOT) falling 3.29% and 4.18% in pre-market trading

according to market data

In contrast, Ark Invest took an opposing stance, increasing its exposure to crypto-related stocks by $39.6 million as prices fell. On November 20, the firm acquired 463,598 shares of Bullish (BLSH), 216,019 shares of Circle (CRCL), and 260,651 shares of Bitmine (BMNR),

wagering on long-term gains despite short-term volatility

. This strategy is consistent with Ark’s pattern of seeking value during market pullbacks, especially in sectors it considers poised for future expansion.

Across the broader crypto landscape, U.S.-listed spot

Bitcoin

ETFs experienced a record $3.79 billion in outflows in November,

according to SoSoValue

. BlackRock’s IBIT led the withdrawals with over $2 billion redeemed, while

ether

ETFs also saw $1.79 billion leave. The sell-off coincided with a 6.4% drop in Bitcoin to $81,629,

marking its sharpest fall since the 2022 crypto downturn

. Analysts pointed to a mix of forced liquidations and deteriorating sentiment,

worsened by delayed U.S. employment figures

and diminishing hopes for interest rate cuts.

At the same time,

Strategy

(MSTR), the largest corporate holder of Bitcoin, has continued to amass the cryptocurrency even as its share price has tumbled nearly 60% over the past four months. The company recently bought 8,178

BTC

at an average cost of $102,171, adding to its $1.5 billion in Bitcoin purchases for November. However, its approach of raising funds through equity and convertible debt offerings has diluted shares,

with the stock now trading at $186

, down from a peak of $456 in July.

Bitcoin Updates: Ark Invest Increases Crypto Portfolio by $39.6M During Market Downturn, Shows Confidence in Future Growth image 0

Amid these challenges, Bitmine Immersion (BMNR) issued a November statement from its chairman reaffirming its optimistic long-term view on crypto. The company, which owns 3.6 million ETH, suggested that the current price cycle could peak in 12 to 36 months. It also pointed to the potential benefits of Ethereum’s Fusaka upgrade and the tokenization of traditional assets

as stated in its official release

Volatility in the crypto market has also affected AI and HPC-focused bitcoin miners, which rallied in pre-market trading after NVIDIA’s strong earnings report. IREN (IREN) and Cipher Mining (CIFR) surged by more than 8% and 11%, respectively,

as investors shifted toward technology-driven opportunities

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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