Bitcoin News Today: Corporate Titans Load Up on $73B Bitcoin, Ethereum as Trade Fears Trigger $19B Crypto Liquidations
The corporate crypto buying spree continued this month as MicroStrategy-rebranded as Strategy-and BitMine ImmersionBMNR-- expanded their digital-asset treasuries despite a volatile market landscape. The moves came amid a broader crypto liquidation cascade triggered by U.S.-China trade tensions, with over $19 billion in leveraged positions wiped out in a single week.
Strategy, the world's largest corporate holder of BitcoinBTC-- (BTC), added 220 BTC to its treasury this week at an average price of $123,561 per coin, raising $27.3 million through the sale of preferred shares[1]. The purchase brought its total holdings to 640,250 BTC, valued at approximately $73 billion, with an average acquisition cost of $73,000. Despite the firm's aggressive buying, Bitcoin's price plummeted to below $105,000 during the week-a 16% drop from Strategy's purchase price-highlighting the missed opportunity to capitalize on the dip[2].
The company's strategyMSTR-- of funding Bitcoin purchases through equity offerings has been a recurring theme. In July, Strategy acquired 4,225 BTC for $472.5 million, leveraging at-the-market offerings of common and preferred shares[3]. This approach has allowed the firm to maintain its position as a de facto Bitcoin ETF, with a year-to-date yield of 25.9% as of October 12[2].
Meanwhile, BitMine Immersion, chaired by former Fundstrat CEO Tom Lee, surpassed 3.03 million EthereumETH-- (ETH) tokens in its treasury, valued at $12.6 billion. The firm added 202,037 ETHETH-- this week alone, taking advantage of a 11.5% price correction following Trump's 100% tariff announcement on Chinese imports[6]. BitMine now holds 2.5% of Ethereum's circulating supply and is targeting ownership of 5%-equivalent to 6.04 million ETH-to solidify its dominance in the crypto treasury space.
Backed by institutional investors including Cathie Wood's Ark Invest and Galaxy Digital, BitMine's strategy mirrors Strategy's approach, using market volatility to acquire assets at discounted prices. The firm also holds $135 million in Eightco stock and $104 million in cash, further diversifying its balance sheet[6].
The recent selloff was fueled by fears of a U.S.-China trade war, with Bitcoin tumbling from a record $123,000 to $103,000 in days. Over $18.28 billion in liquidations were recorded, per CoinGlass, as leveraged traders were forced out of positions. Ethereum and SolanaSOL-- (SOL) fell even harder, with the latter dropping nearly 20%.
Despite the carnage, Strategy and BitMine remain bullish. Michael Saylor, Strategy's executive chairman, has long advocated for Bitcoin as a strategic reserve asset, while Lee of BitMine views Ethereum's blockchain as foundational to the digital economy[7]. Both companies have weathered prior market corrections, with Strategy's Bitcoin holdings appreciating 25.9% year-to-date and BitMine's Ethereum portfolio expanding to $13 billion[2].
The firms' purchases underscore a growing trend of institutional adoption amid macroeconomic uncertainty. While Trump's policies have introduced short-term volatility, corporate treasuries are betting on long-term gains. As one analyst noted, "Volatility creates deleveraging, and this can cause assets to trade at substantial discounts to fundamentals," offering advantages for investors at the expense of traders[6].
Whether these bets pay off will depend on the resolution of trade tensions and the broader crypto market's resilience. For now, Strategy and BitMine continue to defy the noise, adding to their reserves as the sector braces for further turbulence.
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