Treasuries bought the same week everyone else was selling.
Three prints, ~$284M:
Strategy — 1,665 $BTC for $142.7M at $85,681
Strive — 1,107 $BTC for $94.5M at $85,396 (stack now 27,462)
BitMine — 17,362 $ETH for $46.8M (stack now >6M ETH, book ~$17.2B with cash)
They did it into this tape: alt deposits on exchanges tagged the Oct 2025 high, miners stepped up $BTC sales, spot slipped under $83k.
Retail and miners were distributing. Corporate treasuries were the bid.
Same split I watched in April — panic on one side of the book, quiet size on the other.
Who’s right gets settled later. The gap between the two groups is just unusually clean right now.
Which side of this tape are you on?
Three prints, ~$284M:
Strategy — 1,665 $BTC for $142.7M at $85,681
Strive — 1,107 $BTC for $94.5M at $85,396 (stack now 27,462)
BitMine — 17,362 $ETH for $46.8M (stack now >6M ETH, book ~$17.2B with cash)
They did it into this tape: alt deposits on exchanges tagged the Oct 2025 high, miners stepped up $BTC sales, spot slipped under $83k.
Retail and miners were distributing. Corporate treasuries were the bid.
Same split I watched in April — panic on one side of the book, quiet size on the other.
Who’s right gets settled later. The gap between the two groups is just unusually clean right now.
Which side of this tape are you on?