The Drop Couldn’t Stop Bitcoin (BTC) and Ethereum (ETH) Bulls! Massive Buying Announced!

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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