Cathie Wood’s Ark Invest Doubles Down: Scoops Up 262K Block Shares as Prices Tumble

Ark Invest just made a power move—loading up on Block shares while the market panics. Here's why it matters.

Buying the dip or catching a falling knife?

Cathie Wood's fund isn't flinching. While retail investors flee, Ark snapped up 262,000 shares of Block (formerly Square) as prices slid. Contrarian play or calculated bet on fintech's future?

The fintech giant’s stock has been battered—down 60% from its 2021 highs—but Wood’s team sees blood in the streets as an invitation. 'Innovation solves pessimism,' their research insists. Meanwhile, Wall Street analysts mutter about 'valuation recalibration.'

One thing’s clear: When Ark moves, crypto and fintech markets notice. Whether this is genius or hubris will depend on Block’s next earnings call—and how long the Fed keeps playing inflation whack-a-mole.

Jack Dorsey’s Bitcoin Expansion Plans

Jack Dorsey, Block’s CEO, is pushing forward with plans to expand Bitcoin adoption through the company’s various businesses. Block is preparing to launch a full Bitcoin banking suite aimed at small businesses, using its subsidiaries Cash App, Square, and Bitkey. 

Cash App already supports the bitcoin Lightning Network and earned $10 billion in Bitcoin revenue in 2024. Square allows U.S. merchants to accept Bitcoin payments, while Bitkey offers self-custody hardware wallets for everyday users.

In the second quarter, Block added 108 BTC to its corporate treasury, bringing total holdings to 8,692 BTC, bought at an average price of $30,405. This further strengthens the company’s position as a major corporate supporter of Bitcoin.

Also Read: Cathie Wood believes Bitcoin will hit $1.5 million by 2027