Crypto treasuries lose stock value after announcing new crypto investments, while Bitcoin took a dive to $111,676.
Helius Medical Technologies is among the first to fall after announcing its first $SOL investment yesterday. The company acquired 760,190 $SOL at an average $231 for over $175.6M.
Following the press release, $HSDT took a tumble down the stairs, losing 33.61% by closing at $16.02.
CEA Industries, backed by former Binance CEO Changpen Zhao, met a similar fate after announcing its $500M deal this past Sunday to start stacking $BNB. It too lost 19.5%, closing the day at $7.80.
Not even Tom Lee’s BitMine Immersion Technologies could escape the purge, shedding 10% after disclosing that its Ethereum treasury now holds over 2% of $ETH tokens in circulation.
Fortunately, the market holds strong and Strategy leads the way with a new Bitcoin buy, which could set the stage for a massive comeback. Until then, investors turn their eyes to best altcoins like PEPENODE’s ($PEPENODE) with its $1.39M presale.
The Crypto Market Consolidates, Bitcoin Floats, Strategy Keeps Buying
The string of bad news takes a more optimistic turn in light of Strategy’s new Bitcoin purchase. The company just bought another 850 $BTC at an average $117,344 price for a total $99.7M purchase.
This increased Strategy’s Bitcoin reserves to 639,835 coins in a move that was fairly expected, given Michael Saylor’s habit of taking advantage of every dip.
And this is one hell of a dip. Bitcoin took a massive fall following the last FOMC meeting, which took place on September 16-17, where the Fed decided to cut tax rates by 0.25%. $BTC’s price fell 5.23%, from $117,849 on the 18th to $111,676 yesterday.
Fortunately, it recovered slightly since, as it now trades at just above $113k.
Part of that is undoubtedly thanks to Strategy’s vote of confidence, despite the company losing 2.56% on NASDAQ and closing the day at $335.93.
All these losses didn’t manage to shake the market’s confidence in the long-term value of crypto assets, though.
In an interview with Cointelegraph on Saturday, HashKey Capital CEO, Deng Chao, declared his belief that crypto treasuries with long-term strategies will likely ‘survive any market.’
Michael Saylor’s Strategy is the perfect example of that. The company made its first $BTC purchase in August, 2020, and hasn’t stopped buying since. During this 5-year period, MSTR jumped from $14.61 to $335.93 for an ROI of 2,199.32%.
So, the market is still optimistic, especially with the Fed announcing two more rate cuts this year.
In this context, Bitcoin could aim for a new ATH this October as the next FOMC meeting draws close, while PEPENODEs $1.3M presale attracts more investors by the day.
How Pepenode Makes Presales Fun and Engaging
PEPENODE ($PEPENODE) turns presales fun, engaging, and rewarding through virtual memecoin mining. The project aims to address the most pressing problem with crypto presales: lacking ability to drive natural investor engagement.
PEPENODE solves this problem by allowing you to buy mining nodes, upgrade them, and create your own virtual mining facility. The mining gameplay keeps you hooked and rewards you with higher staking bonuses as you climb the leaderboard.
The earlier you tune in, the bigger the candies as well, as Pepenode offers higher rewards for early nodes based on their performance.
Once the project goes live, investors will also receive actual meme coins like $FARTCOIN, $PEPE, and others.
The roadmap consists of four phases and plans to turn Pepenode mainstream through partnerships with top crypto influencers and meme projects.
Now’s the time because the earlier you join in, the higher the rewards, especially with the 953% dynamic staking APY – a $100 investment today could turn into $1,000+ in a year’s time (though the APY will drop as more people stake)
Pepenode’s presale is at $1.39M so far, with a token price of $0.0010702.
With enough community support, we expect the coin to go ballistic post launch. Our price prediction for $PEPENODE is $0.0031 in 2025 and up to $0.0095 by 2030. Mainstream adoption could ramp those numbers up drastically.
So, read our guide on how to buy $PEPENODE and go to the presale page to kickstart your virtual mining rig today.
This isn’t financial advice. Do your own research (DYOR) and manage risks wisely before investing.
Authored by Aaron Walker, NewsBTC: https://www.newsbtc.com/news/crypto-treasury-stocks-crash-as-traders-choose-crypto-presales-like-pepenode
