Pantera Capital predicts that financial reserves of cryptocurrency companies may face restructuring in 2026

Pantera Capital predicts that in 2026, digital asset financial reserve companies will face restructuring, with only a few capital sufficient leaders continuing to accumulate Bitcoin and ETH, while the rest of small companies may be acquired or withdrawn from the market. At present, the accumulation of Bitcoin and ETH is highly concentrated. BitMine has purchased 92511 ETH since the beginning of the year, with a total value of approximately $277 million, accounting for 3.48% of the total ETH supply. Trend Research purchased 41500 ETH worth approximately $126 million through Aave loan funds. Last week, Strategy purchased 22306 bitcoins for approximately 2.13 billion US dollars, holding a total of 709715 bitcoins at a total cost of approximately 53.9 billion US dollars, with an average purchase price of 75979 US dollars. The company's financial reserve address holds approximately 1.13 million bitcoins, accounting for 5.4% of the total supply. ETHZilla sold $74.5 million worth of ETH at the end of December to repay its debt.