Crypto
Bitmine & Microstrategy Soar as Bitcoin Hits $85K Amid Regulatory Uncertainty
On Monday, September 21st, MicroStrategy and BitMine rebounded as Bitcoin surpassed $85,000 and Ethereum recovered. This recovery is attributed to fresh treasury purchases by both companies.
MicroStrategy strengthened its Bitcoin holdings by acquiring 950 BTC for approximately $75.7 million between September 14th and 20th. With this purchase, MicroStrategy now holds a total of 846,000 BTC, acquired at an average price of about $75,416 per Bitcoin.
BitMine has also aggressively expanded its Ethereum treasury, holding 5,983,940 ETH, which represents approximately 4.9% of Ethereum's 122.1 million-token supply. Despite this recovery, regulatory uncertainty remains a concern following the Senate's failure to advance the CLARITY Act.