Bitcoin and altcoins started the week lower, affected by tensions between the US and Iran and President Donald Trump’s tariffs.
Some see this plunge as a buying opportunity, while others see it as a sign of further decline, but Bitcoin ($BTC) and Ethereum ($ETH) Bulls bought more Strategy and Bitmine.
Therefore, Strategy, the biggest institutional Bitcoin bull, also made the most of the past week, purchasing an additional 592 Bitcoins. $BTC.
As a result, Strategy announced the purchase of an additional 592 million shares. $BTC Last week it was about $39.8 million. The company’s average purchase price was $67,286 per coin.
The strategy also added that it held 717,722 people as of February 22nd. $BTC The average price is $76,020 per coin.
The company, which has paid a total of $54.5 billion in Bitcoin purchases since August 2020, holds 3.4% of the total Bitcoin supply.
We think this is a buying opportunity.
Meanwhile, Bitmine, the largest institutional Ethereum bull, announced last week that it had purchased an additional 51,162 shares. $ETH.
In response, BitMine added 51,162 coins last week, increasing its Ethereum assets to 4,422,659. $ETHworth $1,958 each. $ETHyields that sum $ETH The holding amount amounts to approximately 3.66% of the circulating supply.
Tom Lee said: “Last week we purchased 51,162 $ETH. Bitmine has been consistently buying Ethereum because it believes this pullback is attractive given the strengthening fundamentals. In our view, the next price is $ETH not reflected $ETHHigh use case potential and role as the future of finance. ”
The company also added that it currently has 193. $BTC and $691 million in cash.
*This is not investment advice.
