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Last week, there were two notable whale moves in the crypto market.
On the Bitcoin side, the publicly listed mining company known for its aggressive accumulation scooped up 10,624 BTC at an average price of $90,615, pouring in $962 million. With this purchase, their BTC reserves have now surpassed the 660,000 mark (to be exact, 660,624 BTC), valued at $59.8 billion at current prices. Their cost basis is at $74,696, with unrealized profits exceeding $10.4 billion—definitely making the most of this bull run.
Ethereum also saw significant action. Another treasury company focused on ETH took advantage of the price dip and bought 138,452 ETH near $2,978, spending $412 million. However, their overall average cost is higher ($3,925), and they now hold a total of 3.86 million ETH (worth $12.07 billion), with an unrealized loss of over $3 billion. Looks like they’re sticking to dollar-cost averaging till the end.
The strategies of these two institutions couldn’t be more different: one is feasting, while the other is still averaging down in the struggle. The market really is that wild.