The crypto accumulation game continues with major players Strategy and Bitmine adding significant assets to their treasuries. Strategy, led by Michael Saylor, recently acquired an additional 1,587 BTC, injecting approximately $100M into its Bitcoin holdings. Meanwhile, Tom Lee’s Bitmine has expanded its Ethereum reserves, adding a substantial 76,881 ETH to reach a total of 5.62 million tokens.
Key Takeaways
- Strategy’s Bitcoin stash now stands at an impressive 846,842 BTC, acquired at an average cost of $75,656 per coin.
- Bitmine has solidified its position as the largest corporate holder of ETH globally, with its treasury reaching 5.62 million tokens.
- Despite these aggressive accumulation strategies, the stock performance of both Strategy (MSTR) and Bitmine (BMNR) has faced recent headwinds.
Strategy’s latest Bitcoin purchase, made between June 8th and June 14th, saw an average acquisition price of $63,024 per BTC. While this recent buy-in is below their lifetime average, their substantial holdings currently represent an unrealized loss of around $8.1 billion based on current market prices. This aggressive stance underscores Strategy’s unwavering conviction in Bitcoin as a long-term asset.
Bitmine’s accumulation of Ethereum is equally noteworthy. With 5.62 million ETH now in its treasury, valued at approximately $9.66 billion at current prices of $1,718 per ETH, Bitmine holds the distinction of being the world’s largest corporate holder of Ether. This positions Bitmine as the second-largest crypto treasury overall, trailing only Strategy’s Bitcoin holdings. The company is reportedly on track to achieve its ambitious goal of owning 5% of Ethereum’s total supply.
Interestingly, the continued crypto buying spree has not immediately translated into stock market gains for either company. Strategy’s shares (MSTR) closed Friday down 19.8% year-to-date, while Bitmine’s stock (BMNR) experienced a 2.48% dip on the same day. This divergence highlights the often-volatile relationship between corporate crypto treasury management and public market valuations.
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