Ark Invest Doubles Down on Block and SpaceX with $23 Million Investment

Cathie Wood's investment firm Ark Invest has made two significant purchases: $21 million in Block shares and $2.3 million in SpaceX stock.

The buys occurred on August 6, doubling down on companies that sit at the intersection of Bitcoin and Elon Musk's business empire.

Ark Invest has held Block, formerly known as Square, for years due to its direct exposure to Bitcoin. The company operates a Cash App platform that allows users to buy and sell BTC seamlessly, giving Ark a direct line to Bitcoin's transaction volume and price.

The fresh $21 million purchase suggests Ark sees value in Block's shares at current levels, adding to a position the firm has built and trimmed repeatedly over the past several years.