Cathie Wood buys the 5-month low dip in Bitcoin with GBTC

blackdovfx/iStock via Getty Images ARK Invests CEO and CIO Cathie Wood scoops up over 1M shares of Grayscale Bitcoin Trust (GBTC) in Tuesday's trading session, equating to a rough valuation of $29.3M. This move by Wood comes as bitcoin (BTC-USD) slid to $28,800, its lowest level since January 22, 2021. Since yesterday's recent low, the crypto asset has bounced back above the $30,000 marker and is now up to $34,000 or +7.59% in Wednesday's trading session. ARK Invest added all 1,046,002 shares of GBTC to its actively managed ARK Next Generation Internet ETF (ARKW). As of yesterday, June 22, GBTC is now the ninth-largest holding inside of ARKW as it represents 3.62% of the exchange traded fund. ARKW is taking advantage of the latest drop in price for bitcoin as the crypto supporting organization has also built up sizable shares in Coinbase Global as well. Currently, ARKW is +20.86% from its recent lows back