Crypto
Treasury Companies Ramp Up Crypto Holdings Despite Volatile Market Conditions
Public crypto treasury companies continued to accumulate Bitcoin, Ethereum, and Solana despite a volatile September. Strategy, the largest public Bitcoin holder, paused its purchases ahead of the Federal Reserve's rate decision.
BitMine Immersion Technologies added 27,180 ETH last week, taking its total holdings to 5.956 million ETH. DeFi Development Corp., which focuses on Solana, also expanded its SOL position by 2% since August 27, with a total of 2.39 million SOL.
Strive continued to accumulate Bitcoin, reaching 25,000 BTC with its latest purchase. However, Strategy repurchased $139 million of its STRC preferred stock instead of buying more Bitcoin, which marked a temporary shift in capital allocation.