Evening Brief: Bitcoin Hits New Treasuries, Ethereum Tightens Supply, ETFs Expand
From sovereign reserves to BlackRock’s ETH spree, crypto adoption keeps sprinting ahead.
📌 Bottom Line Up Front: From corporate stockpiles to sovereign debates, crypto’s gravitational pull is widening. Ethereum supply is thinning, ETFs are expanding, and influential voices see Bitcoin as a coiled spring waiting to launch.
“Bitcoin is the first scarce object the world has ever seen with absolute digital scarcity. That makes it priceless.”
— Saifedean Ammous
Bitcoin Mining & Market Outlook
Marathon Digital (MARA) mined 705 BTC in August, pushing its treasury above 52,000 BTC. Market analysts see momentum building as Bitcoin reclaims $112K, with some forecasting a “massive move” ahead. Others caution that Bitcoin could surge to $175K and Ethereum to $17K before a dot-com style crash resets the cycle.
Corporate & National Bitcoin Treasuries
Public companies now hold a record 1 million BTC, or 5.1% of the total supply. Beyond Bitcoin, DeFi Development Corp grew its Solana treasury past $400M. Meanwhile, Paraguay will meet in September to discuss a strategic Bitcoin reserve—a sign of growing sovereign adoption. ✅
Ethereum Developments
Dormant whale activity is stirring: an early ICO participant moved $646M in ETH into staking after three years. At the same time, Binance’s ETH balances continue to plummet, tightening exchange supply while prices remain resilient. On the treasury front, SharpLink’s Joseph Chalom said the firm is considering staking part of its $3.6B Ethereum treasury on Linea.
ETF Momentum
BlackRock flexed its dominance, scooping up $150M in Ethereum in a single day, dwarfing competitors. Meanwhile, analysts say Dogecoin may soon see its first-ever ETF, possibly launching as early as next week.
Voices of the Day
Matt Hougan (Bitwise CIO): “Bitcoin should be at $200,000 by now. Once suppression is removed, it’s a coiled spring.” 🚀
Samson Mow: “Buying Bitcoin under $100K is the opportunity of a lifetime.”
Eric Trump: “Crypto is growing faster than the internet. Every country is sprinting at it.”
Joseph Chalom (SharpLink): on staking Ethereum as a treasury strategy.
QUESTION OF THE DAY
If Dogecoin secures ETF approval next week, will it mark a turning point for meme coins in institutional investing—or remain just a speculative sideshow?
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