Crypto Treasury Firms Stock Up on Ethereum, Solana, and Bitcoin Before Fed Rate Decision

Crypto treasury firms have been quietly increasing their holdings of major cryptocurrencies like Ethereum, Solana, and Bitcoin in the face of market uncertainty. According to Pluang, BitMine Immersion Technologies acquired a significant amount of Ethereum last week, adding 27,180 ETH to its portfolio, which now accounts for nearly 5% of the total supply.

DeFi Development Corp also grew its Solana holdings by 2%, while Strive bought 469 Bitcoin. Interestingly, Strategy (formerly MicroStrategy) paused its Bitcoin purchases and instead repurchased $139 million of its preferred stock.

The moves come ahead of a key Federal Reserve interest rate decision, which is expected to impact crypto prices and test the resilience of institutional crypto holdings during uncertain market conditions.