Strategy vs. Bitmine: Same Conviction, Very Different Outcomes
I keep coming back to this contrast because it says a lot about timing, patience, and how treasury strategies actually play out in crypto.
On one side, Strategy has quietly added another 1,287 BTC at around $90,316. With total holdings now at 673,783 BTC and an average cost near $75,026, their unrealized profit sits at roughly $11.97 billion. No leverage drama, no over-optimization — just consistent accumulation through cycles.
On the other side, Bitmine increased its ETH exposure by nearly 33,000 ETH last week. But with an average cost of $3,867 and ETH still below that level, its total ETH treasury is now showing an unrealized loss of about $2.98 billion.
What stands out to me isn’t “BTC vs ETH” — it’s execution. Same idea (corporate crypto treasuries), completely different results depending on entry discipline and cycle awareness. In this market, conviction alone isn’t enough. Timing still decides who looks like a genius on the balance sheet.
