Institutions Restart Heavy Buying After the Weekend Crypto Crash
Bitmine announced its ETH holdings now exceed $3 million after it purchased over 202,000 ETH. Meanwhile, Strategy expanded its Bitcoin accumulation, raising over $27 million to buy 220 BTC.
These are just a few examples of how digital asset treasuries and large investors capitalized on last week’s significant crypto market crash, seizing the opportunity to buy the dip.
Institutions Buy the DipLast weekend’s crypto bloodbath caused digital assets to experience a sharp decline. Bitcoin saw its price drop by $20,000 in less than a day, while Ethereum fell by 21%.
Major institutional investors—specifically digital asset treasuries—seized on the opportunity to expand their holdings at favorable prices.
BitMine Technologies, the world’s largest Ethereum treasury company, reported today that it had added 202,037 ETH to its holdings, valued at $828 million. This purchase boosted the company’s total reserves to 3,032,188 ETH, meaning BitMine now owns over 2.5% of the entire ETH supply.