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Blockchain company BTCS increases Ethereum holdings by $8.40 million, strengthening Ethereum's strategic position as a core asset.

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CoinGape
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May 21, 2025

BTCS, a Nasdaq-listed blockchain infrastructure company, has purchased 3,450 $ETH worth $8.42 million, increasing its Ethereum holdings to approximately 12,500 tokens valued at $31.8 million. CEO Charles Allen emphasized Ethereum as a foundational asset for the company's growth, aiming to strengthen validator operations and increase staking revenue. This move coincides with rising institutional demand for Ethereum, highlighted by significant inflows into ETH-related funds. Following the purchase, BTCS stock price surged by 13.56% to $2.68, with a 68% increase over the past month. The acquisition boosted BTCS's total crypto holdings and cash to about $38.42 million, an 88% increase since Q2 began, enhancing the company's liquidity. The Ethereum price saw a brief surge to $2,607 before settling at $2,547, reflecting market reactions to the purchase. Additionally, Ethereum's exchange supply recently hit a low, with less than 4.9% of total supply held on exchanges.

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