Whale Hunting: Strategy and BitMine increase BTC and ETH reserves amid market downturn
While retail investors remain hesitant, the largest corporate players are showing confidence in the market's long-term potential. Over the past week, we have witnessed massive purchases by two flagships of institutional accumulation: Strategy increased its bitcoin reserve, and BitMine continues to pursue its ambitious goal of controlling 5% of the total Ethereum supply.
Strategy: Another $100 Million in BTC
Between June 8 and June 14, Strategy acquired 1,587 bitcoins. The transaction amount was approximately $100 million, with an average purchase price recorded at $63,024 per coin. This acquisition was financed through an at-the-market (ATM) equity offering program.
As a result, the company's total holdings reached 846,842 BTC. Total investments in the leading cryptocurrency amounted to $64.07 billion, with an average entry price of $75,656 per bitcoin. Notably, alongside this purchase, the company also increased its dollar reserve by $100 million to $1.1 billion. This indicates a balanced approach to capital management. Currently, Strategy holds approximately 5.59% of the total circulating bitcoin supply.
BitMine: One Step Away from the "Alchemy" of 5%
Meanwhile, BitMine, the largest corporate holder of Ethereum, added 76,881 ETH to its portfolio over the week. The total amount of ether on the company's balance sheet reached 5.62 million coins, representing approximately 4.66% of the asset's total supply.
BitMine has already completed 93% of its journey toward its goal of holding 5% of all Ethereum. The company plans to achieve this target during 2026. It is important to note that over 83% of its holdings (approximately 4.72 million ETH) are already staked, generating around $226 million in annual income for the company. This is not just accumulation but a working asset generating passive income. BitMine's total cryptocurrency and cash assets are now valued at $10.4 billion, including approximately $285 million in cash.
Cryptalist Analysis: The actions of Strategy and BitMine are a clear signal to the market. By buying at current levels, they are not just "catching the bottom" but implementing a long-term accumulation strategy. For me, the BitMine case is particularly telling: the combination of aggressive buying with active staking creates a powerful financial lever. While the market fluctuates, the "whales" are building their crypto empire, and ignoring this trend would be a serious mistake.