Declines Can’t Stop Bitcoin (BTC) and Ethereum (ETH) Bulls! More Massive Buying Announced!

Bitcoin and altcoins started the new week lower, affected by US-Iran tensions and President Donald Trump’s tariffs.

While some see this dip as a buying opportunity and others as a signal of further declines, Bitcoin (BTC) and Ethereum (ETH) bulls made additional purchases of Strategy and BitMine.

Accordingly, Strategy, the largest institutional Bitcoin bull, did not let the past week go to waste either, purchasing an additional 592 BTC.

Accordingly, Strategy announced that it purchased an additional 592 million BTC last week for approximately $39.8 million. The company’s average purchase price was $67,286 per coin.

Strategy also added that as of February 22, they held 717,722 BTC at an average price of $76,020 per coin.

Having paid a total of $54.5 billion for Bitcoin purchases since August 2020, the company holds 3.4% of the total Bitcoin supply.

We See This as a Buying Opportunity!

On the other hand, BitMine, the largest institutional Ethereum bull, announced last week that it had purchased an additional 51,162 ETH.

Accordingly, BitMine added 51,162 coins last week, increasing its Ethereum treasury to 4,422,659 ETH, valued at $1,958 per ETH, bringing its total ETH holdings to approximately 3.66% of the circulating supply.

Tom Lee stated, “Last week we purchased 51,162 ETH. Bitmine is consistently buying Ethereum because we find this pullback attractive given the strengthening fundamentals. In our view, the price of ETH does not reflect ETH’s high use case potential and its role as the future of finance.”

The company also added that it currently holds 193 BTC and $691 million in cash.

*This is not investment advice.

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