Abraxas Capital is slowly becoming Microstrategy, but for ETH.

Yesterday, I told you that Abraxas Capital is planning to buy more ETH and it happened.

In the past 24 hours, Abraxas Capital bought another 57,343 ETH worth $151 million.

This brings their total holdings to 242K ETH worth $640 million.

But how are they buying so much ETH?

● Buy ETH on Binance

● Use it as a collateral to borrow USDT on AAVE

● Transfer USDT to buy Binance for buying more ETH

Repeat it over and over again.