Strategy, BitMine Stock Prices Dive as Bitcoin and Ethereum Sink

Decrypt01-29 23:19

In brief Bitmine and Strategy stocks both dropped nearly 10% on Thursday amid government shutdown concerns. Bitmine holds $11.9 billion in Ethereum, while Strategy holds $about 60 billion in Bitcoin. ...

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BMNR dipped as low as $26.02 on the day, matching its $26.02 close on November 2, 2025.At the start of the week, Tom Lee's BitMine made its biggest buy yet in 2026 by acquiring $116 million worth of ETH. Since the start of the year, the company has made three other purchases: $108 million, $76 million, and $100 million. The Ethereum treasury company now holds approximately $11.9 billion worth of ETH, or 3.5% of the total supply, according to a tracker maintained by price aggregator CoinGecko.Meanwhile, Strategy saw its shares take a similar slide, reaching a lot not seen in more than a year. As of the close of trading, MSTR had also fallen by nearly 10% and was changing hands for $143.19. Thursday's low of $139.36 was the lowest price registered for MSTR since September 2024, according to Yahoo Finance data.The company, co-founded by chairman and outspoken Bitcoin bull Michael Saylor, added to its treasury on Monday, too. MSTR announced that it spent $267 million on Bitcoin last week. The 712,647 BTC in its treasury is now valued at approximately $60 billion at current prices.Thursday's decline across both the equities and crypto markets came amid signs of potential turmoil. The U.S. Senate blocked a continuing resolution that would stave off a partial government shutdown on Thursday afternoon. Lawmakers have until Saturday to strike a deal. It also came as Microsoft's stock plunge fueled lingering fears of an AI bubble.Bitcoin has fallen more than 5% on the day, recently trading for $84,416 after partially recovering from a daily low of $83,407. It's still above the recent low it hit in late November, when it briefly dipped below $83,000 as a BTC billionaire dumped their entire $1.3 billion stash on the market. Ethereum, meanwhile, had slid to $2,816 and was trading 6.6% lower than it was yesterday, according to CoinGecko.The rocky price action has spurred users on Myriad, a prediction market platform owned by Decrypt parent company Dastan, to up the odds that Ethereum will see $2,500 before it can climb back to $4,000. On Thursday, users predicting that the token will sink further increased their odds from 65% to more than 75%.Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.Your EmailGet it!Get it!","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2607905773","isCrawlerRequest":true}