Bitcoin mining giant, Digital Marathon She made headlines by investing a staggering $100 million in BitcoinThis major investment comes despite the fact that Previous Bitcoin Price Dropconfirming the mining giant’s confidence in the long-term potential of the leading cryptocurrency.
Mara buys $100 million in Bitcoin
in press release MARA (recently renamed from Marathon Digital) announced on Thursday, July 25, that it has purchased an additional $100 million worth of BTC. Bitcoin investment This represents a significant increase to MARA’s already impressive Bitcoin holdings.
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MARA’s Latest BTC Acquisition Brings Its Balance Sheet to a Balance Collectibles to about 20,000 bitcoins, worth about $1.3 billion. The total holdings of the bitcoin mining company now represent about 0.1% of the total Maximum supply of BTC 21 million BTC.
It is worth noting that MARA’s large BTC purchase comes at a time when Cryptocurrency market is recovering steadily From previous bearish declines. Although Continuous fluctuations in the price of BTCMARA has taken advantage of recent declines to invest heavily in Bitcoin in order to facilitate its long-term view of the crypto asset’s potential.
At the time of writing, Bitcoin price Bitcoin is trading at $68,031, up 1.4% in the last 24 hours and up another 2.24% over the past seven days, according to CoinMarketCap. Based on current exchange rates and MARA’s balance sheet holdings, it can be estimated that the total recent acquisition was around 1,500 BTC.
while Mara The Bitcoin mining giant did not disclose the specific average price at which it acquired $100 million worth of Bitcoin, and announced that it would adopt a full-fledged approach. Hold on for dear life (HODL) Approach to Bitcoin Treasury Policy.
In addition to, Michael Sailorco-founder and former CEO of MicroStrategy, It was celebrated. MARA’s latest Bitcoin purchase hits 20,000 BTC. The famous Bitcoin billionaire has urged Marathon Digital to increase its holdings to 26,200 BTC, in a clever reference to the standard marathon distance of 26.2 miles.
Bitcoin Mining Giant Reveals Full HODL Strategy
Mara also announced her decision to adopt Full HODL Strategy The company announced that it will continue to invest in its Bitcoin treasury, with the goal of keeping all Bitcoin mined during operations rather than selling them. Additionally, the company revealed that it will periodically make strategic purchases in the open market to increase its significant holdings.
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Fred Thiel, Chairman and CEO of Mara, emphasized the company’s strong belief in Long term value of bitcoinencouraging governments and companies to consider BTC as a reserve assetHe explained that Mara sees Bitcoin as the best reserve asset for the world’s treasury and supports the idea of sovereign wealth funds holding the leading cryptocurrency.
Additionally, Salman Khan, MARA’s CFO, revealed that the Bitcoin mining company previously held all of its Bitcoins. However, due to recent market conditions, increased institutional interest, and an improving macro environment, MARA has decided to revert to a full HODL strategy.
Featured image created using Dall.E, chart from Tradingview.com
