Closely followed investor Cathie Wood bought the dip in several crypto stocks during June.
Through her Ark Invest asset management firm, Wood bought more than $75 million U.S. worth of beaten down crypto stocks during June.
Specifically, Wood bought $44 million U.S. worth of stock in cryptocurrency exchange Coinbase Global (NASDAQ: $COIN).
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She also purchased $25.25 million U.S. of equity in Circle Internet Group (NYSE: $CRCL), issuer of the world’s second-largest USD stablecoin (CRYPTO: $USDC).
Wood also bought $8.2 million U.S. worth of shares in cryptocurrency exchange Bullish (NYSE: $BLSH), according to regulatory disclosures.
Wood loaded up on shares of crypto companies as their prices fell as much as 40% in June.
CRCL stock fell 40% during the month while COIN stock plunged 20% and BLSH shares ended June down 27%.
Stocks of cryptocurrency companies got slammed in June as the price of Bitcoin (CRYPTO: $BTC) slumped nearly 20% during the month and fell to a 21-month low of $58,000 U.S.
Wood is known for investing in innovation and new technologies, including cryptocurrencies and blockchain firms. She often buys the dip in beaten down stocks.
Ark Invest is privately held and its stock doesn’t trade on a public exchange.