Major institutional crypto treasuries continued to accumulate digital assets despite Bitcoin briefly falling below $74,000 and hovering near $75,000. Strategy, the largest publicly traded Bitcoin holder, announced that founder Michael Saylor oversaw the purchase of 1,036 BTC between November 2 and November 8 at an average price of $79,012, bringing total holdings to 850,364 BTC. The company has now invested about $64.16 billion in Bitcoin at an average cost of $75,456 per coin. Strategy also repurchased $188 million of STRC preferred shares and noted it holds $4.9 billion in dollar-denominated assets, enough to cover preferred dividends and interest payments for about 3.4 years.
Strive also added 29 BTC between October 31 and November 6 at an average price of $75,721, raising its total to 43,153 BTC. In Ethereum, Bitmine disclosed a purchase of 9,587 ETH, lifting its total to 6,070,092 ETH, approximately 4.97% of circulating ETH supply. Bitmine reported $14.3 billion in total assets, including 6.07 million ETH, 216 Bitcoin, $475 million in cash and marketable securities, $180 million in Beast Industries shares and $75 million in Eightco Holdings shares. Chairman Tom Lee said Ethereum founder Vitalik Buterin's Devcon 8 statement that ETH is money represents a seismic shift, adding that ETH is reliable collateral favored by financial institutions moving assets on-chain.
On Solana, Nasdaq-listed DeFi Development Corp. purchased another 8,881 SOL, bringing its total to 2.6 million SOL. CEO Joseph Onorati said the company remains focused on accumulating SOL, multiplying assets and increasing SOL per share, while also earning staking and validator commission revenue. Meanwhile, Santiment data showed wallets holding 1-10 BTC accumulated 10,076 coins and wallets with 10-100 BTC added 4,131 coins over two weeks, for more than 14,000 BTC in total accumulation during the selloff. Santiment noted that such behavior against bearish retail sentiment has historically rewarded key stakeholders, though a break below recent lows could weaken the outlook. The total number of non-empty BTC wallets fell by about 108,700 from 59.99 million on October 16, a sign of retail capitulation that has preceded major recoveries in the past.
