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Bitcoin and altcoins experienced sharp declines over the weekend, with some seeing this drop as a buying opportunity and others signaling further declines.
While there was generally more bearish sentiment at this point, Bitcoin ($BTC) and Ethereum ($ETH) bulls made additional purchases on Strategy and BitMine.
Accordingly, Strategy, the largest institutional Bitcoin bull, purchased an additional 855 $BTC last week.
Accordingly, Strategy announced that it purchased an additional 855 million $BTC between January 26 and February 1 for approximately $75.3 million. The company’s average purchase price was $87,974 per coin.
Strategy also added that as of February 1st, they held 713,502 $BTC at an average price of $76,052 per coin.
On the other hand, BitMine, the largest institutional Ethereum bull, announced last week that it had purchased an additional 41,788 $ETH.
Accordingly, BitMin added 41,788 coins last week, increasing its Ethereum treasury to 4.285 million $ETH, bringing its total holdings to approximately 3.55% of the circulating supply.
BitMine also stated that the total amount of Ethereum staked has reached approximately 2.9 million $ETH, an increase of around 900,000 $ETH in just the last week.
The company also added that it currently holds 193 $BTC and $586 million in cash.
*This is not investment advice.
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