When most people see red in the crypto markets, they panic. But a select group of investors and institutions? They see a sale. While sentiment has turned decidedly sour amid the ongoing cryptocurrency sell-off, several heavyweight players have been quietly (and not so quietly) accumulating Bitcoin (BTC) and Ethereum (ETH) at what they consider bargain prices.
The Damage Report
Let's be clear about the scale of the correction. The two largest cryptocurrencies by market cap have taken serious hits. Bitcoin is currently trading 26% below its October all-time high, while Ethereum has shed a painful 38% from its peak.
| Cryptocurrency | 30-Day Performance | Drop Since All-Time High | Price (as of 2:45 a.m. ET) |
| Bitcoin | -13.47% | -26.23% | $92,962.55 |
| Ethereum | -17.57% | -38.26% | $3,059.35 |
For some, these numbers scream "get out." For others, they whisper "buy more." Guess which camp these folks fall into?
Saylor's Strategy: Buy More Bitcoin
Michael Saylor's Strategy Inc. (MSTR)—the company that's essentially turned itself into a Bitcoin treasury vehicle—hasn't flinched. Over the last 30 days, the company has purchased 8,795 BTC, totaling $817 million at current prices, according to CoinGecko data.
The company's total Bitcoin reserves now stand at a staggering 650,000 BTC, worth $60.45 billion. That makes Strategy the world's largest corporate holder of Bitcoin, and they're showing zero signs of slowing down.
El Salvador Doubles Down on Its Bitcoin Bet
El Salvador—the country that made history by becoming the first nation to adopt Bitcoin as legal tender—has also been aggressively buying the dip. President Nayib Bukele's government scooped up 1,122.19 BTC over the past month, worth $104.24 million for its national reserves.
The most eye-catching move? A mammoth single-day purchase of 1,090 BTC. When you've already committed to Bitcoin as a national strategy, apparently market corrections just look like clearance sales.
Ramaswamy's Strive Shows Conviction
Vivek Ramaswamy-founded Strive Inc. (ASST) has emerged as another prolific buyer during the downturn. The company bagged 1,567 BTC over the last month, expanding its total stash to 7,525 BTC—now worth nearly $700 million at current prices.
That's a serious vote of confidence in Bitcoin's long-term prospects, market volatility be damned.
Tom Lee's Ethereum Accumulation Spree
But Bitcoin wasn't the only cryptocurrency attracting big money. Bitmine Immersion Technologies Inc. (BNR)—chaired by Wall Street veteran Tom Lee—has been on an aggressive Ethereum buying spree that puts most accumulation strategies to shame.
The company purchased a jaw-dropping 331,064 ETH over the past 30 days alone. That brings Bitmine's total holdings to 3.72 million ETH, currently valued at almost $11 billion. When you're buying Ethereum by the hundreds of thousands, you're clearly not worried about short-term price swings.
Even Congress Is Buying
The buying activity extended to Capitol Hill as well. Senator David McCormick (R-Pa.) disclosed purchasing shares of the Bitwise Bitcoin ETF (BITB) ahead of Thanksgiving, according to government trading disclosures.
It seems the appetite for crypto exposure spans from corporate treasuries to sovereign nations to the halls of Congress. While the market bleeds, the believers are loading up.