Cathie Wood’s investment management firm Ark Invest purchased an additional 74,792 shares of crypto exchange Coinbase (COIN), the company said on Thursday. Ark Invest also added 99,523 shares of Tesla (TSLA).

Ark Invest CEO Cathie Wood on Thursday purchased 158,116 shares of crypto exchange Coinbase and 22,514 shares of electric vehicles firm Tesla. Cathie Wood has been actively buying Coinbase and Tesla shares in December as share price falls to new lows. Both COIN and TESLA shares recorded over 6% and 8% jump on Thursday.

With the cryptocurrency market renowned for its volatility, many traditional investors in stocks, bonds, and precious metals have steered clear of digital assets in 2022, especially in uncertain economic market conditions.

On a day Tesla Inc (NASDAQ: NASDAQ:TSLA) stock dropped to over two-year lows, Cathie Wood’s ARK Investment Management took the opportunity to load up on the EV maker’s shares, displaying its unflinching trust in the company.

Famous electric vehicle manufacturer Tesla is reportedly planning staff layoffs and the implementation of a hiring freeze beginning the first quarter of 2023.

Ark Invest’s CEO Cathie Wood buys more shares of cryptocurrency exchange Coinbase (COIN) and electric vehicles firm Tesla from the dip. Cathie Wood remains bullish on electric vehicles and cryptocurrencies, especially Bitcoin. Ark Invest founder Cathie Wood recently reiterated that Bitcoin price could hit $1 million by 2030.

Tesla CEO and Twitter chief Elon Musk has reiterated his warning about a recession in the U.S. He tweeted Friday that if the Federal Reserve raises interest rates again next week, the “recession will be greatly amplified.”