Bitcoin Surge Drives Corporate Accumulation of BTC and ETH

On September 5, the rebound in the cryptocurrency market at the end of August prompted companies to increase their allocation to crypto assets. Bitcoin's price rose by approximately 23%, with some mining companies seeing stock price increases of 41% to 67%. The market believes that the U.S. Treasury's expansion of bond buybacks, positive signals from the White House regarding crypto regulation, and the liquidation of over $1.6 billion in short positions collectively drove the rise in related assets. Strive purchased 1,800 BTC in the last week of August, costing about $143 million, increasing its total holdings to 23,156 BTC, making it the fifth-largest publicly traded Bitcoin holder; Strategy simultaneously increased its holdings by 4,603 BTC, bringing its total holdings to over 845,000 BTC. Twenty-one major financial institutions, including Bank of America, Goldman Sachs, and Citigroup, plan to establish a new company and aim to launch a U.S. dollar stablecoin in the first half of 2027, later expanding to other G7 currencies for cross-border payments and digital asset settlements. Bitmine has increased its ETH holdings for 65 consecutive weeks, with its latest holdings exceeding 5.9 million ETH, accounting for 4.9% of Ethereum's circulating supply of approximately 120.7 million, just a step away from its 5% holding target. Despite the continuous accumulation, the company currently faces an unrealized loss of about $5.1 billion on its ETH holdings.

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