According to the data from the Ethereum strategic reserves, currently, 2.31 million ETH are held among 61 strategic reserves, accounting for 1.91% of the total supply, valued at 8.46 billion dollars.

In comparison, a total of 206 companies hold over 3.4 million bitcoins, valued at over 408 billion dollars, accounting for 16.5% of the total supply.

Tom Lee, Chairman of the BitMine Board, stated that the company aims to acquire and hold at least 5% of the total Ethereum supply, which is over 6 million ETH.

As mentioned earlier, the reason for the decoupling of Bitcoin and Ethereum price trends in 2024 is largely due to enterprise-level Bitcoin procurement. Last year, companies led by MicroStrategy frequently bought Bitcoin as a long-term asset, with little mention of procuring Ethereum.

Since May of this year, the situation has changed significantly. After a slow rise in Ethereum prices, more and more companies have begun to procure Ethereum as a reserve asset.

The obvious reason behind this is to boost the company's stock price. By adding Bitcoin and Ethereum to the company's reserve assets, this goal can be easily achieved.

A few days after announcing the plan to purchase ETH, Bitmine's stock (BMNR) surged over 3,000%, reaching an all-time high of $135 on July 3.

Meanwhile, following the announcement of Ethereum's transformation on May 27, SharpLink Gaming's (SBET) stock price soared by 171%, trading at $79.21.

Such companies are also seen by the market as a desperate move for survival. SBET, originally a poorly managed online tech company, gained market attention by adding Ethereum to its balance sheet. While it may not completely turn their fortunes around, at least there is hope for transformation, which is truly remarkable.

Without discussing whether these imitators of MicroStrategy can create miracles again, it is undoubtedly beneficial for the development of Ethereum. Ethereum will receive a continuous influx of corporate liquidity similar to Bitcoin, which is favorable for its long-term development. The trends of Ethereum and Bitcoin are likely to converge again, especially since Ethereum has fallen too far behind and has the potential to catch up.

The commonality among these companies is that they obtain funds by selling company shares or issuing new ones to purchase Ethereum, and then enhance company value through the purchased Ethereum. Regardless of the form, the beneficiaries will certainly be the holders of Ethereum, as they will continuously buy Ethereum.

Disclaimer: The content and charts published in this article aim to disseminate industry-related information. All information is for reference and sharing purposes only and does not constitute any investment advice.