Companies are diversifying and are also buying Ethereum

Companies on every continent now hold Bitcoin as an investment. Recently, long-term investments in Ethereum have also been added. With Ether also expected to reach its all-time high soon, this isn’t really all that surprising of course.

At the time of writing, Ethereum is trading for $3,737.

Strategy

Since the beginning of the year, every continent has seen at least one company buying Bitcoins with their cash reserves, some simply with the intention of boosting their own share price. MetaPlanet in Japan has shown that this can be very successful and several companies in Europe have also started using this strategy.

The best example is of course Michael Saylor’s firm Strategy (formerly MicroStrategy). They saw their share price skyrocket in recent years because they bought so many Bitcoins.

Recently, several companies have also been actively investing in Ethereum with the intention of hodling it long-term.

Ethereum

Coinbase has long been known to hold a significant amount of Ethereum, but recently, crypto mining company BitMine Immersion Technologies also started doing this.

Thanks to the announcement that BitMine is now also purchasing Ethereum, they recently welcomed a new shareholder. None other than Peter Thiel purchased 9.1% of all available shares.