Crypto Daily | Strategy Adds $330 Million in Bitcoin; BitMine Adds $152 Million Worth of Ethereum; Polymarket to Launch Stablecoin

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Bitcoin Tops $70,000 as Traders Unwind Bets Amid War Tensions

Bitcoin climbed above $70,000 on Monday for the first time since March, as traders rushed to pull back bearish positions despite the lack of clarity on ceasefire negotiations in the Middle East.

The original cryptocurrency advanced more than 4%, surpassing $70,300 before paring some of the gain. Smaller tokens including Ether and Solana also rose.

The surge comes as Tehran rejected a proposed ceasefire and demanded a permanent end to the war. Trump escalated pressure on Iran over the weekend and continued his threats Monday, but he also said that talks are moving ahead.

Strategy Adds $330 Million in Bitcoin After Taking a Week Off

Strategy said on Monday that it bought 4,871 BTC for $330 million last week, growing its Bitcoin treasury using proceeds that primarily came from its flagship preferred share.

The Tysons Corner, Virginia-based firm announced that it now owns nearly 767,000 Bitcoin, a sum valued around $53.3 billion. The company added Bitcoin to its industry-leading treasury at $67,700 apiece—below where the digital asset stood on Monday.

The company’s latest acquisition was made with proceeds that overwhelmingly came from Strategy’s variable-rate preferred share, STRC. The Bitcoin-buying firm issued $227 million worth of the dividend-paying product compared to the $72 million worth of common shares last week.

Tom Lee's BitMine Adds $152 Million Worth of Ethereum to $10 Billion Stash

Ethereum treasury firm BitMine Immersion Technologies continued its relentless accumulation of ETH, adding 71,252 ETH or $152 million worth in the last week. 

The purchase brings the firm’s total holdings to more than 4.8 million ETH, valued around $10.3 billion, which accounts for 3.98% of the entire circulating token supply. 

"The war has placed downward pressure on global markets, so it is impressive to see ETH as one of the few to rise on an absolute basis,” said BitMine Chairman Tom Lee, in a statement. “This is a great harbinger, as we expect ETH leadership to strengthen investors and eventually take cash off the sidelines.”

Polymarket to Launch Stablecoin, Order Book Overhaul in Prediction Market Upgrade

Prominent on-chain prediction market platform Polymarket is deploying a major upgrade to its technical foundations, including implementing a new order book and its own stablecoin for use as collateral on the platform. 

The firm is calling the upgrade its “biggest change to date.” 

“We've heard your feedback, and we're excited to announce Polymarket is getting a full exchange upgrade,” the prediction market posted on X. “Over the next few weeks, we're rolling out a rebuilt trading engine, upgraded smart contracts, and a new collateral token, Polymarket USD.”

Strive Buys More Bitcoin, Boosting Stash to $940 Million

Strive has expanded its Bitcoin treasury with a new acquisition of 113 BTC, reinforcing a steady accumulation strategy among publicly traded firms increasingly treating Bitcoin as a core balance-sheet asset.

According to a recent filing, the company purchased the Bitcoin for approximately $7.75 million, implying an average price near $68,584 per BTC. The latest addition brings Strive’s total holdings to 13,741 BTC.

The move comes during a period of elevated volatility across digital asset markets, with Bitcoin trading around the $70,000 level. Despite price fluctuations, corporate demand continues to provide a structural bid, particularly from firms pursuing long-term treasury diversification strategies.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $471.32 million. The total net asset value of Bitcoin spot ETFs is $90.26 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.46%.

The Bitcoin spot ETF with the highest net inflow on April 6 was iShares Bitcoin Trust (IBIT), with a net inflow of $181.89 million, according to SoSoValue.

Source: SoSoValue

The overall net inflow of the US Ethereum spot ETF on Monday was $120.24 million. The total net asset value of Ethereum spot ETFs is $12.28 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 4.74%.

The Ethereum spot ETF with the highest net inflow on April 6 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $60.82 million, according to SoSoValue.

Source: SoSoValue