But here’s the kicker: while BitMine is loading up on ETH, their share price has taken a nosedive, plummeting 14.2% since August 11. Talk about timing. It’s like showing up to a party in a new outfit only to realize everyone else is wearing the same thing. 🤦♂️
Ethereum (ETH) now finds itself languishing around $4,350, having gracefully descended from its recent heights of $4,800. The spotlight is on a CME futures gap nestled between $4,050 and $4,100. Such gaps, dear reader, are like magnets for prices, especially after the weekend revelries of the futures market.
Balance-sheet brag-sheet: Metaplanet now cradles 18,888 BTC worth a theoretical $1.94 billion-average price $102,653. They are, by their own lights, 12 % in the money, and still riding the Ferris wheel with merry abandon. The FT would call this “prudent diversification”; Twitter calls it a paid vacation for their graphics intern.
Closing at $4,475 on August 13th, Ethereum showed us all that it’s still alive-and apparently thriving-after a long hiatus. The secret? Probably those Ethereum ETFs with their giant inflows, because nothing screams “bullish momentum” like a record-breaking $1.02 billion in one day. Who knew that money could find its way to ETH faster than a dog to a biscuit?
Let’s dig into the juicy bits so you can stop guessing and start stressing less about your portfolio.
Well, gentle reader, the short answer is, “Because everyone else is doing it and peer pressure works on corporations too.” Governments, institutions, corporations, and your auntie’s knitting club now collectively sit on >10 % of Bitcoin’s supply. Sensing the FOMO wave rising faster than the average Dutch levee, Amdax reckons Europe needs its own bumper-sticker-worthy HODL fund. “We’ve got clogs, tulips, cheese, and now-Bitcoin! Nice and balanced portfolio,” said absolutely nobody, but Amdax liked the idea anyway.
Introducing AMBTS B.V.: a private little club with a tiny mission to hold 1% of all Bitcoin in existence. They’re raising funds in stages-think of it as the crypto version of a bake sale, only with a lot more digital dough. 🍪💸
This firm is basically the ‘hipster’ of crypto, operating solo, independent, and doing what most companies only dream of-holding a fistful of Bitcoin while pretending they don’t care.
In a not-so-friendly update, Kraken has re-enabled XMR deposits after suspending them back on August 15th. Why, you ask? Oh, just a small issue: A mining pool, one *very* ambitious mining pool, had grabbed over 51% of XMR’s hashing power. Classic bad guy move, right?
According to the chart Martinez shared (a retweet from his X post on Sunday), XRP has dipped below the critical support level at $3. Now, he’s warning us that XRP might slide down to $2.60, or even plummet to $2. Yikes! 🙈
