Strategy added 3,273 $BTC for $255 million in fresh buying, pushing its corporate treasury to 818,334 BTC, the company disclosed this week. On the Ethereum side, Bitmine Immersion Technologies said it acquired 101,627 $ETH over the past week, bringing its total holdings to 4.98M ETH — roughly 4.12% of the network's total supply.
The twin buys land in a tape dominated by the same dynamic: corporate balance sheets adding to spot exposure while listed-commentary pivots back to a breakout thesis. Arthur Hayes said on a Monday appearance that he is long Bitcoin, characterising recent price action as chop and pointing to a $125,000 year-end target. CryptoQuant CEO Ki Young Ju pushed a counter-read, warning that the rally is futures-led and on-chain spot demand is still negative.
Why it matters
The pace from both treasuries is structural, not tactical. Strategy's 3,273 BTC this week keeps the company on its multi-quarter accumulation cadence, the same playbook that has carried it from a few thousand coins to over 800K in roughly four years. Bitmine's 101,627 ETH in seven days is a faster relative burn — pushing the firm above 4% of total ETH supply is a threshold that, on a percentage basis, only a handful of entities (Beacon-chain validators, the Ethereum Foundation, wrapped-ETH custody pools) have ever crossed. The buying is also happening with the Clarity Act markup scheduled for May and Senator Cynthia Lummis signalling a legislative push to the finish line, framing digital assets as a domestic policy priority rather than a fringe asset class.
Market impact
The supply-side implication is the cleaner read. If Strategy is buying weekly regardless of spot, and Bitmine is now adding north of 100K ETH per week, total corporate absorption runs into seven figures of coins per quarter on each side. Against that backdrop, Hayes's $125K call and Ju's spot-demand warning are no longer the central debate — the central debate is whether the rate of corporate absorption outpaces sell pressure from existing holders.
Frequently asked questions
-
How much Bitcoin and Ethereum did Strategy and Bitmine just buy?
Strategy disclosed 3,273 BTC for $255 million, bringing its holdings to 818,334 BTC. Bitmine added 101,627 ETH over the past week, lifting its total to 4.98M ETH — about 4.12% of Ethereum's total supply.
-
What is Arthur Hayes's Bitcoin price target for year-end?
Hayes said he is long Bitcoin, described recent action as chop, and pointed to a $125,000 year-end target. CryptoQuant CEO Ki Young Ju pushed back, warning the rally is futures-led and on-chain spot demand is still negative.
-
What is Western Union launching and when?
Western Union confirmed it will launch USDPT, a Solana-based stablecoin, next month, as part of a crypto strategy that includes its digital asset network and a US dollar stable card. Brian Armstrong separately estimated $60 billion in 2025 remittance fees could fall close to zero with stablecoins.
-
What is the status of US crypto legislation?
Senator Cynthia Lummis said the Clarity Act markup is scheduled for May and that the bill will be pushed to the finish line. Senator Thom Tillis said he will vote against the Senate crypto bill unless it includes ethics language restricting officials' use of digital assets.
-
Why are corporate treasuries buying ETH and BTC at this pace?
Strategy has been on a multi-quarter BTC accumulation cadence since 2020, while Bitmine has scaled to over 4% of ETH supply in a matter of months. Both are running corporate balance-sheet strategies that absorb millions of coins per quarter, independent of short-term price action.
CryptoSlate
Whale Alert
Lookonchain
WuBlockchain
Crypto Rank News
Glassnode