Whale Hunting: Strategy and BitMine buy Bitcoin and Ethereum on the dip
While retail investors remain hesitant, institutional giants continue to build up their cryptocurrency reserves. Over the past week, we have witnessed aggressive buying by two of the largest corporate holders of digital assets: Strategy increased its Bitcoin portfolio, and mining corporation BitMine expanded its Ethereum positions. This is a classic "smart money" signal, indicating they see current price levels as an attractive entry point.
Strategy: Another 1,587 BTC in the Piggy Bank
Between June 8 and 14, Strategy acquired 1,587 bitcoins, spending approximately $100 million. The average purchase price was $63,024 per coin. The company's total reserve has now reached 846,842 BTC, acquired for a total of $64.07 billion at an average price of $75,656 per bitcoin. The financing was carried out through an at-the-market (ATM) equity offering program, while the company simultaneously increased its dollar reserve to $1.1 billion.
Notably, these purchases are occurring against the backdrop of a local rebound: by June 15, bitcoin had risen to $66,500, recovering over 12% from its cycle low of $59,131. Nevertheless, the asset is still trading nearly 47% below its all-time high of $126,200. Thus, Strategy continues to adhere to a dollar-cost averaging strategy, without chasing peaks.
BitMine: On the Path to 5% of Ethereum's Supply
The largest corporate holder of Ethereum — BitMine — also did not stand idly by. Over the week, it added 76,881 ETH to its portfolio, bringing its total holdings to 5.62 million coins. This is equivalent to approximately 4.66% of the entire circulating supply of Ethereum. BitMine's total cryptocurrency and cash assets reached $10.4 billion, including about $285 million in cash.
The company has already completed 93% of the journey toward its ambitious "5% alchemy" goal — holding 5% of the total Ethereum supply. It expects to reach this milestone during 2026. Notably, over 83% of its ETH (4.72 million coins) is already staked, generating approximately $226 million in annual income. This is not mere accumulation, but working capital.
My view: Such actions by institutions are a powerful bullish signal. They are not buying on emotion, but on analysis, positioning for long-term growth. The current correction is, in essence, a sale for those who know how to wait. If you had doubts about the market's prospects, the actions of Strategy and BitMine provide a clear answer: "smart money" is voting for cryptocurrencies, and voting decisively.