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Ethereum Price Nears Record High of $4,861 Amid Corporate Buying
Ethereum surged close to record highs on Wednesday amid a wave of buying as corporate entities began accumulating the world’s second-largest cryptocurrency, mirroring the strategy used for Bitcoin.
Ether jumped 8.5% to $4,683.0, nearing its record high of $4,861 set in November 2021.
Several publicly traded U.S. companies this week announced plans to increase their Ethereum holdings, following the Bitcoin accumulation strategy popularized by Michael Saylor’s MicroStrategy Incorporated (NASDAQ:MSTR).
MicroStrategy (now Strategy), the world’s largest corporate holder of Bitcoin, has raised billions through stock offerings, primarily used to finance its Bitcoin purchases over the past two years.
The company’s shares have nearly tripled over the past year as investors sought exposure to Bitcoin via Strategy stock, which largely moved in tandem with Bitcoin prices.
The company’s Bitcoin purchases, in turn, fueled cryptocurrency price increases and attracted numerous firms aiming to replicate its strategy and success. Now, it appears the focus is shifting toward Ethereum.
Global leader in corporate Ethereum holdings, Bitmine Immersion Technologies Inc (NYSE:BMNR), disclosed on Monday that it owns more than 1.15 million tokens valued at $4.9 billion.
The company also recently announced plans to raise an unprecedented $24.5 billion in capital, intending to invest the majority into Bitcoin.
Sharplink Gaming Ltd (NASDAQ:SBET), which engages in Ethereum treasury operations, announced on Monday that it had raised $400 million to purchase additional Ethereum. The company holds approximately 598,800 tokens.
Billionaire and tech investor Peter Thiel this week revealed a 7.5% stake in 180 Life Sciences Corp (NASDAQ:ATNF). The company is undergoing a rebrand, transforming into an Ethereum treasury called ETHZilla. Following the disclosure, 180’s stock more than tripled on Tuesday.
180 also disclosed it holds about 82,186 Ethereum tokens.
The accumulation surge has led to stellar Ethereum gains over the past week, with the cryptocurrency now outperforming Bitcoin year-to-date. Ethereum is up 39.4% in 2025 so far, while Bitcoin has gained 27.9%.
See also: "Litecoin Cryptocurrency Rises 10% Amid Bullish Rally"
