While sentiment has soured due to the ongoing sell-off in the cryptocurrency market, several notable investors have continued to accumulate Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) at discounted prices.
Crypto Market Slides But…
As is evident, the two biggest cryptocurrency assets by market capitalization have faced sharp corrections. Bitcoin is currently trading 26% below its October all-time high, while Ethereum has dropped 38%.
| Cryptocurrency | 30-Day Gains +/- | Gains Since All-Time Highs +/- | Price (Recorded at 2:45 a.m. ET) |
| Bitcoin | -13.47% | -26.23% | $92,962.55 |
| Ethereum | -17.57% | -38.26% | $3,059.35 |
While some have seen the decline as an exit signal, others capitalized on the muted prices to add to their positions.
Michael Saylor Remains Steadfast
Michael Saylor’s Bitcoin treasury company, Strategy Inc. (NASDAQ:MSTR), has bought 8,795 BTC over the last 30 days, totaling $817 million at current prices, according to CoinGecko.
The company currently holds 650,000 BTC in its reserves, worth $60.45 billion, making it the world’s largest corporate holder.
El Salvador’s Bold Bitcoin Bet
El Salvador, the country renowned for being the first to adopt Bitcoin as a legal tender, has also pounced on the opportunity.
The Nayib Bukele-led country scooped 1,122.19 BTC, worth $104.24 million, for its national reserves over the last month, including a mammoth purchase of 1,090 BTC in a single day.
Strive’s BTC Acquisition Signals Confidence
Vivek Ramaswamy-founded Strive Inc. (NASDAQ:ASST) has also emerged as one of the prolific buyers of the apex cryptocurrency, bagging 1,567 BTC in the last month to expand its stash to 7,525 BTC, worth nearly $700 million.
See Also: Max Keiser Says Bitcoin Is Like An Eel: ‘Ignore The Volatility Tail,’ Focus On Head Going Up
How Much Ethereum Is Too Much?
But it wasn't only Bitcoin catching the attention of big investors.
Bitmine Immersion Technologies Inc. (NYSE:BNR) has been aggressively stockpiling Ethereum for its treasury, and recent selloffs have not deterred it.
The company, chaired by Wall Street veteran Tom Lee, purchased 331,064 ETH in the last 30 days, increasing its total holdings to 3.72 million ETH, valued at almost $11 billion.
Senator’s Festive Grab
Purchases by lawmakers also made headlines. Sen. David McCormick (R-Pa.) disclosed buying shares of the Bitwise Bitcoin ETF (NYSE:BITB) ahead of Thanksgiving, according to the Benzinga Government Trades page.
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