Cathie Wood-Backed BitMine Slides Pre-Market As Ethereum Reverses From Record Highs—But This Peter Thiel-Linked ETH Treasury Stock Has Gained
Shares of Ethereum (CRYPTO: ETH) treasury companies opened lower in Monday’s pre-market trading after ETH failed to sustain its rally to record highs.
ETH Treasury Stocks Tumble
World’s largest ETH treasury company BitMine was down over 6% in pre-market trading. The firm, holding 1.26% of the total ETH in circulation, has spearheaded the accumulation trend over the last two months.
The company roped in popular Wall Street analyst Tom Lee as Chairman, while seasoned investors like Cathie Wood and Peter Thiel have acquired significant stakes.
Sharplink Gaming, the second-largest ETH hoarder, slid 4.70%, while Bit Digital fell 3.13%. The newly branded ETHZilla Corp. bucked the decline, rising by more than 3%.
These companies launched their ETH treasury strategies, shifting their primary reserve asset to the …
About The Author
