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Strategy, BitMine keep on buying š°
The digital asset treasury firms are continuing to hoard BTC and ETH, adding nine-figure hauls to their coffers even as their stocksāand crypto pricesāslip.
š What you need to know
Digital asset treasury firms Strategy and BitMine continue to scoop up Bitcoin and Ethereum for their respective stockpiles, with Strategy buying nearly a billion dollars worth of BTC for the second week in a row, while BitMine purchased some $320 million worth of ETH.
BitMine Chairman Tom Lee reiterated his conviction that crypto prices have ābegun to recover,ā even as Bitcoin slipped to its lowest price since the start of the month Monday morning amid market wobbles.
Strategy and BitMineās respective share prices have fallen sharply in recent weeks, with Michael Saylorās firm setting up a $1.4 billion cash reserve in order to help pay for dividends and avoid selling Bitcoināa move Lee lauded as āsmartā just a few days ago. Could BitMine follow suit?
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