Ethereum’s recent upside price performance is attracting significant interest from major investors in the cryptocurrency and financial sectors, particularly at the institutional level. Multiple big companies have been spotted acquiring the leading altcoin in huge chunks for the purpose of owning an ETH treasury reserve.
BTCS Inc. Scoops Up Another 14,240 Ethereum
In a bold move that underscores its commitment to blockchain infrastructure, BTCS Inc., a blockchain technology company, has acquired a large quantity of Ethereum. Coin Bureau, a crypto enthusiast, reported the company’s latest ETH purchase on the social media platform X, igniting optimism within the community.
This strategic acquisition strengthens the company’s standing as one of the few publicly traded blockchain infrastructure companies, focusing on an ETH treasury reserve. Furthermore, the company’s latest acquisition indicates a growing institutional belief in the future of the altcoin.
Given that Ethereum is still at the forefront of decentralized finance (DeFi) activity, BTCS’ recent action to adopt more ETH demonstrates how corporate treasuries are increasingly considering digital assets over conventional reserves.
According to the report from the expert, BTCS Inc. bought over 14,240 ETH, significantly expanding its crypto holdings. With the latest purchase, BTCS Inc.’s total reserve currently boasts 70,028 ETH, valued at around $275 million.
It is worth noting that this purchase comes a week after the firm bought 14,522 ETH in a strategic push. Considering the persistent buying activity around ETH, Coin Bureau stated that corporate ETH FOMO (Fear of Missing Out) is heating up.
The expert also announced in another X post that SharpLink Gaming, an online performance marketing company, has also made another strategic ETH acquisition. The company is one of the first companies listed on Nasdaq to create a treasury strategy focused on ETH.
Coin Bureau’s report reveals that SharpLink Gaming just bought around 77,210 ETH, worth approximately $295 million. After the substantial purchase of Ethereum, the gaming company has retained its position as the second-largest ETH holder, with a total holdings of 438,017 ETH, valued at a whopping $1.7 billion.
ETH Getting Ready For A Major Bull Run?
With interest in ETH intensifying, the altcoin could experience a notable lift-off, as a wave of institutional buying pressure often triggers a bullish reaction in price. Some are predicting that the ongoing institutional buying spree could be the launchpad for a move toward the $5,000 mark.
Other factors that could drive ETH’s price to new levels are the recently signed GENIUS Act bill. According to Andrew Keys, the founder and CEO of The Ether Machine, Ethereum is the largest beneficiary of the GENIUS Act, which may attract more stablecoin deployments on the network. When this happens, ETH’s value is likely to grow exponentially, possibly reaching new all-time highs.
Featured image from iStock, chart from Tradingview.com
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