Is this ultimately top-tier strategic vision or a once-in-a-lifetime opportunity to take over?

Another major institution has made a move, pledging another 10.95 million ETH, with a book value of $344 million. To be honest, this is not the first or second time.

Their total ETH holdings have already risen to 4.1435 million, accounting for 3.43% of the global supply. Even more crazy is that they explicitly stated their goal to reach 5%. This level of execution is indeed terrifying.

But after carefully analyzing the data, I found that everyone has overlooked a key issue. Based on the valuation method this institution discloses each time…