Three Wall Street corporate treasuries (Strive, BitMine, and MicroStrategy) disclosed massive cryptocurrency purchases on Monday, collectively spending over $500 million in a single week. Strive acquired 1,800 BTC at an average price of $79,431, bringing its total to 23,156 BTC (approximately $1.83 billion), while BitMine bought 53,501 ETH for its 65th consecutive week and stakes 5.07 million ETH to generate between $335 million and $390 million annually. US spot bitcoin funds saw $3.3 billion in inflows in August, and ether funds approximately $1.75 billion, pushing bitcoin up 25.7% and ether up 33.3% for the month. This dynamic creates a virtuous cycle: ETF demand lifts coin prices, which appreciates corporate treasury holdings, enabling them to sell shares to buy more coins.
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