They bought billions in Bitcoin and Ethereum: why institutions aren't afraid of the bear market

Two institutional giants are reinforcing their positions in Bitcoin and Ethereum, opting for strategic accumulation and liquidity amid market corrections.

Amid an environment marked by price corrections and a notable decrease in liquidity in the crypto market, two institutional players have significantly increased their positions in digital assets. Strategy y BitMine Immersion They are adopting a well-calibrated strategy that combines tactical accumulation, diversification, and liquidity maintenance, demonstrating a long-term investment approach. 

While the market adjusts its expectations and goes through times of uncertainty, these companies not only maintain their commitment, but also reinforce their presence in key cryptocurrencies such as Bitcoin and Ethereum, avoiding any indication of withdrawal.

The recent moves by Strategy and BitMine suggest that, despite recent volatility and adjustments, institutional investors continue to see opportunities for growth and consolidation of their crypto portfolios, trusting in the resilience of core crypto assets and the future evolution of the ecosystem.

Strategy's reserve is approaching 650.000 BTC

Strategy, Michael Saylor's firm, has executed a New purchase of 8.178 BTC for approximately $835,6 million, at an average price of $102.171 per share. This transaction, as Saylor reported on its social media, is part of a sustained accumulation strategy that has led the company to own a total of 649.870 BTC. 

In publicationSaylor specified that the average cost of acquiring the bitcoins that Strategy holds is at $74.433 per BTCThis allows it to retain unrealized gains even after the 25% correction that the cryptocurrency has suffered in the last month.

The strategy applied by the company responds to an approach of Dollar Cost Averaging (DCA)This strategy involves making recurring purchases of an asset, in this case Bitcoin, without attempting to predict market movements. This methodology has allowed Strategy to build a robust position, with a cumulative return of 27,8% so far in 2025. In other words, instead of reacting to volatility, the company has chosen to strengthen its exposure, taking advantage of every opportunity to increase its crypto holdings.

On the other hand, the total volume invested by Strategy in Bitcoin to date amounts to $48.370 billion, which positions the company as the largest institutional holder of Bitcoin globally. 

According to experts, Strategy's investment approach not only reflects conviction, but also a tactical understanding of the crypto market cycle, in which disciplined accumulation becomes a competitive advantage.

BitMine: Liquidity, Ethereum, and a Tokenization Vision

In addition to Strategy, BitMine Immersion is also riding the wave of favorable winds in its crypto strategy, primarily focused on Ethereum, the second most capitalized cryptocurrency in the market. 

The company has reported a combined cryptocurrency and cash position of $11.800 billion. This figure includes approximately 3,6 million ETH tokensThis represents 2,9% of the circulating Ethereum supply. In addition, the company holds $607 million in unencumbered cash and other digital asset holdings, which are part of its portfolio called “Moonshots.”

In her report In its November financial report, the company emphasized that its ETH accumulation has surpassed the midpoint of the estimated institutional supply and is progressing toward what the firm calls the “5% Alchemy”: a symbolic milestone representing significant participation in the Ethereum ecosystem. This positioning has not only market implications but also strategic ones, given Ethereum’s role as an infrastructure for asset tokenization.

Tom Lee, president of BitMine, has indicated that the recent market weakness could be linked to limited liquidity from market makers. However, he maintains a positive outlook on the cycle, projecting that the peak could remain active for 12 to 36 months. In his remarks, Lee emphasized that asset tokenization on the Ethereum blockchain represents a significant breakthrough for financial innovation and factor investing.

Currently, BitMine is the largest institutional holder of Ethereum in the world and the second largest holder of cryptocurrencies, after Strategy.

BitMine connects cryptocurrencies and traditional markets

Beyond its cryptocurrency holdings, BitMine stands out for its performance in traditional markets. BMNR stock has become the 48th most traded in the United Stateswith an average daily trading volume of $1.400 billion, based on a five-day average. The company highlighted that this stock market liquidity gives it an advantage over other players in the sector, facilitating access for both institutional and retail investors.

Furthermore, BitMine leads its cryptocurrency treasury peers in the speed of increase in liquidity per share, reflecting efficient management of its digital assets. The combination of strategic holdings, operational liquidity, and cyclical vision makes BMNR a benchmark within the crypto-financial ecosystem.

Finally, BitMine's bet on Ethereum as an infrastructure asset, coupled with the trading capacity of its shares, positions it as a hybrid player between the crypto world and traditional markets. This duality allows it to navigate with flexibility in highly volatile environments without compromising its accumulation strategy.

Institutions take advantage of volatility to grow

Recent moves by Strategy and BitMine Immersion reveal an institutional narrative increasingly moving away from short-term speculation. Instead of retreating in the face of market corrections, both companies have reinforced their positions, employing disciplined accumulation strategies and investing in assets with structural potential.

While Strategy is consolidating its dominance in Bitcoin through recurring purchases, BitMine is advancing in Ethereum with a vision that goes beyond price, focusing on tokenization and liquidity. The convergence of these strategies suggests that, for certain institutional players, volatility represents not a threat, but an opportunity to reposition themselves more effectively.