Home Business Cathie Wood continues to buy Coinbase stock amid crypto plunge

Cathie Wood continues to buy Coinbase stock amid crypto plunge

Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021.

Michael Nagle | Bloomberg | Getty Images

Ark Invest’s Cathie Wood is continuing to buy shares of Coinbase amid the spiral in crypto prices.

Wood — founder of Ark Invest — purchased $38 million worth of Coinbase in various funds on Wednesday, after the crypto currency exchange’s stock dropped 6% amid bitcoin’s rout. Wood’s purchase is based on Coinbase’s Wednesday closing price of $224.80 per share.