Crypto
Strategy Is Buying Bitcoin Again, and BitMine Now Holds Nearly 5 Percent of All Ethereum
The corporate treasury playbook keeps scaling. Strategy disclosed a purchase of 950 bitcoin for about 75.7 million dollars between September 14 and 20, at an average price of about 79,670 dollars, lifting its total to 846,000 bitcoin acquired for roughly 63.8 billion dollars at an average of about 75,416 dollars. The stock rose 9.40 percent to 168.50 dollars on the news.
Ethereum has its own accumulator, and it is moving faster. BitMine acquired 27,562 ether in the week through September 20, taking its holdings to 5,983,940 ether, about 4.9 percent of the entire supply. Around 5.07 million of those ether are staked, which turns a treasury into an income stream.
The timing matters. Both purchases landed as bitcoin held above 86,000 dollars and ether climbed to about 2,768 dollars, up 4.5 percent over 24 hours, with the total crypto market capitalization near 2.97 trillion dollars. These are weekly disclosures of accumulation through September 20, the steady kind of buying that builds structural demand beneath the price.
Zoom out and the pattern is clear. Strategy keeps adding bitcoin through every phase of the cycle, and BitMine is doing the same with ether while adding staking yield on top. Two companies, two assets, one conviction. Holding the network's native asset through the cycle beats holding cash through the cycle.
The playbook has matured. Strategy's latest buy came through the same window as its evolution from a bitcoin holder into a builder of bitcoin financial infrastructure, with financing instruments, preferred stock, and debt layered around its stack. The company's equity premium to its bitcoin net asset value is now a market of its own, and each weekly buy reinforces the structure. At 846,000 bitcoin, Strategy holds a meaningful share of the eventual 21 million supply, acquired at an average of about 75,416 dollars.
BitMine is writing the ether version of the same story, with a twist Strategy cannot copy, staking. With around 5.07 million ether staked, BitMine earns yield on its treasury simply by securing the network, turning a balance sheet into a productive asset. The company now holds about 4.9 percent of all ether, a concentration that makes it one of the largest single participants in Ethereum's proof of stake security. Corporate treasuries have moved past simply buying crypto. They are joining the networks.
For you, the lesson is about who is doing the buying. When public companies stack thousands of coins on a schedule and stake them for yield, the float available to everyone else keeps shrinking. Corporate treasuries have become crypto's most patient buyers.
Quick answers
What is this story about?
The corporate treasury playbook keeps scaling. Strategy disclosed a purchase of 950 bitcoin for about 75.7 million dollars between September 14 and 20, at an average price of about 79,670 dollars, lifting its total to 846,000 bitcoin acquired for roughly 63.8 billion dollars at an average of about 75,416 dollars. The stock rose 9.40 percent to 168.50 dollars on the news.
Why does this story matter?
For you, the lesson is about who is doing the buying. When public companies stack thousands of coins on a schedule and stake them for yield, the float available to everyone else keeps shrinking. Corporate treasuries have become crypto's most patient buyers.
Sources
- Bitget News: Strategy buys 950 BTC, BitMine adds 27,562 ETH
- Pluang: Bitcoin surges past $87,000 on short squeeze and ETF inflows
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