As advocates of innovation and disruptive technology, Ark Invest and CEO Cathie Wood are natural fans of Bitcoin (CRYPTO: BTC). To shed more light on the world's first cryptocurrency, Wood and her team publish a monthly report on the state of Bitcoin, recent trends in on-chain activity, and other macroeconomic developments impacting its price.

With another month passing by, Ark recently published their report for May. Here's what they had to say.

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Source Fool.com