Strategy, the largest institutional Bitcoin investor, paused all Bitcoin purchases last week, maintaining its holdings at 843,775 BTC as of July 20, 2026. Meanwhile, BitMine, the leading Ethereum treasury firm, continued to accumulate Ethereum, adding 7,430 ETH to its reserves.
Strategy's Bitcoin Holdings and Cash Reserves
Strategy sold $466.7 million worth of MicroStrategy (MSTR) shares between July 13 and July 19, generating net proceeds of $263.5 million without acquiring new Bitcoin. This move aligns with the company’s Digital Credit Capital Plan introduced in late June, emphasizing strengthening its US dollar reserves, which rose to approximately $3.23 billion.
The company’s pause in Bitcoin purchases follows significant BTC sales in recent weeks. Founder Michael Saylor confirmed no Bitcoin acquisitions were made during the last week.
BitMine's Continued Ethereum Accumulation
In contrast, BitMine added 7,430 ETH last week, increasing total Ethereum holdings to 5,777,468 ETH, roughly 4.8% of the circulating supply. The firm also staked 4.92 million ETH, representing about 85% of its assets, and repurchased 5.5 million shares at an average price of $15.62.
BitMine’s total combined value of cryptocurrency, cash, and other investments reached $11.5 billion. CEO Tom Lee explained the slower ETH purchase pace was due to the stock buyback, which aims to boost shareholder value. BitMine has been consistently buying Ethereum weekly since June 30, 2025, and is currently the largest staker worldwide.
Strategy’s recent capital raise and Bitcoin pause demonstrate a cautious approach amid market conditions, while BitMine’s aggressive Ethereum strategy highlights contrasting institutional behaviors within the crypto sector.
This material is for informational purposes only and does not constitute financial advice.
