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Whales Buy Bitcoin & ETH Dip
5 Dec
Summary
- Michael Saylor's company bought $817M in Bitcoin last month.
- El Salvador acquired 1,122 BTC amid price drops.
- Bitmine Immersion Technologies stockpiled 3.72 million ETH.
In the face of a cryptocurrency market slide, notable investors are strategically acquiring Bitcoin and Ethereum at discounted prices, signaling continued confidence in the digital assets. These accumulating entities include major corporations and even a nation-state.
Michael Saylor's Strategy Inc. notably purchased $817 million worth of Bitcoin over the last 30 days, reinforcing its position as the world's largest corporate holder with 650,000 BTC. El Salvador, renowned for its Bitcoin adoption, also seized the opportunity to acquire 1,122 BTC for its national reserves.
Further bolstering the market, Vivek Ramaswamy's Strive Inc. expanded its Bitcoin holdings. Simultaneously, Bitmine Immersion Technologies has been aggressively accumulating Ethereum, adding 331,064 ETH in the past month to reach nearly $11 billion in holdings. Even lawmakers, like Senator David McCormick, have been active buyers of Bitcoin-related ETFs.
