$ETH Crypto Treasury Companies Keep Buying Through a Weak September, Conviction or Recklessness?
Three publicly listed crypto treasury companies increased their holdings last week, even as the market trudged through a weak September.
The standout numbers:
BMNR bought another 27,180 ETH, bringing its total to 5.956M ETH (~4.9% of circulating supply). Of that, 5.07M tokens are staked. The company values its total digital assets and cash at $15.8 billion.
DeFi Development Corp raised its holdings by 2% to 2.39M $SOL since August 27, and opened a $300M at the market offering program.
Strive bought 469 $BTC between September 8-11 at an average of $77,954, now holding 25,000 BTC.
Notably: Strategy didn't buy more BTC, instead repurchasing $139M worth of STRC preferred stock. It currently holds 845,050 BTC at an average cost of $75,412.
This activity comes ahead of the FOMC decision on September 16. CME FedWatch shows the probability of a 25 basis point hike has climbed to 85.6% (up from 48.4% a month ago).
This is a notable gamble. Higher rates raise the cost of holding non-yielding assets like Bitcoin and could pressure crypto prices if the market drops further.
Yet these companies keep buying. BMNR stands out, holding nearly 5% of circulating ETH supply a position that could significantly influence the market.
Strategy not buying more BTC and pivoting to stock buybacks is a thought provoking signal. It may indicate a shift toward capital structure management rather than continued accumulation.
What do you think are these treasury companies seeing long-term opportunity, or are they stuck in positions too large to exit?
News is for reference, not investment advice. Please read carefully before making a decision.
Three publicly listed crypto treasury companies increased their holdings last week, even as the market trudged through a weak September.
The standout numbers:
BMNR bought another 27,180 ETH, bringing its total to 5.956M ETH (~4.9% of circulating supply). Of that, 5.07M tokens are staked. The company values its total digital assets and cash at $15.8 billion.
DeFi Development Corp raised its holdings by 2% to 2.39M $SOL since August 27, and opened a $300M at the market offering program.
Strive bought 469 $BTC between September 8-11 at an average of $77,954, now holding 25,000 BTC.
Notably: Strategy didn't buy more BTC, instead repurchasing $139M worth of STRC preferred stock. It currently holds 845,050 BTC at an average cost of $75,412.
This activity comes ahead of the FOMC decision on September 16. CME FedWatch shows the probability of a 25 basis point hike has climbed to 85.6% (up from 48.4% a month ago).
This is a notable gamble. Higher rates raise the cost of holding non-yielding assets like Bitcoin and could pressure crypto prices if the market drops further.
Yet these companies keep buying. BMNR stands out, holding nearly 5% of circulating ETH supply a position that could significantly influence the market.
Strategy not buying more BTC and pivoting to stock buybacks is a thought provoking signal. It may indicate a shift toward capital structure management rather than continued accumulation.
What do you think are these treasury companies seeing long-term opportunity, or are they stuck in positions too large to exit?
News is for reference, not investment advice. Please read carefully before making a decision.
