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ARK Invest Fund Manager Buys Square Stocks Worth $50 Million After DeFi Platform Launch Is Announced

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Mon, 07/19/2021 - 11:51
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Arman Shirinyan
ARK Invest buys Jack Dorsey's Square, Inc. stocks as soon as DeFi platform launch is announced by the CEO
ARK Invest Fund Manager Buys Square Stocks Worth $50 Million After DeFi Platform Launch Is Announced
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ARK Invest fund decided to purchase 225,937 Square, Inc. stocks worth around $50 million. Right before the big purchase, the CEO of Square, Jack Dorsey, announced that Square is developing a new open platform that will allow developers to create decentralized financial services.

According to the daily report, ARK Innovation ETF and ARK Next Generation Internet ETF bought an additional 179,664 and 46,273 stocks of Square, respectively. Earlier this year, ARK Invest sold nearly 280,000 shares of Square.

Jack Dorsey's Square, Inc. has always been interested in the cryptocurrency business. For example, in April, Square announced that it is considering developing a Bitcoin hardware wallet and solar-powered Bitcoin mining facility.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.