bitcoin mining giant, Digital Marathon He has made headlines by investing a staggering $100 million in bitcoin-is-the-path-to-transactional-freedom/” rel=”nofollow”>bitcoinThis significant investment occurs despite Previous btc price dropsunderscoring the mining giant’s confidence in the pioneering cryptocurrency’s long-term potential.
MARA buys $100 million worth of btc
in a bitcoin” rel=”nofollow”>Press release On Thursday, July 25, MARA (recently rebranded as Marathon Digital) announced that it has purchased an additional $100 million worth of btc. This significant bitcoin Investment marks a significant increase in MARA’s already impressive bitcoin holdings.
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MARA's latest btc acquisition has boosted its balance sheet holdings to about 20,000 btc, valued at roughly $1.3 billion. The bitcoin mining company's total holdings now account for nearly 0.1% of btc Max Supply of 21 million btc.
It is worth noting that MARA's significant purchase of btc comes at a time when The cryptocurrency market is recovering steadily from previous bearish falls. Despite the Constant fluctuations in the price of btcMARA has taken advantage of the recent declines to invest heavily in bitcoin in order to facilitate its long-term view of the potential of cryptoassets.
At the time of writing this article, the bitcoin-to-rally-as-hash-ribbons-flashes-buy-signal/” rel=”nofollow”>btc Price According to CoinMarketCap, MARA is trading at $68,031, up 1.4% over the past 24 hours and another 2.24% increase over the past seven days. Based on current exchange rates and MARA’s balance sheet holdings, it could be estimated that its recent acquisition amounted to around 1,500 btc.
While bitcoin-mining-marathon-reports-228-revenue-boost/” rel=”nofollow”>MARA While it has not disclosed the specific average price at which it acquired the $100 million in btc, the bitcoin mining giant announced that it will take a comprehensive approach. bitcoin-hodler-selling-exhausts-supply-moving-up/” rel=”nofollow”>Hold on tight to live (HODL) approach to its bitcoin treasury policy.
Besides, bitcoin-statement/” rel=”nofollow”>Michael Saylorco-founder and former chief executive officer (CEO) of MicroStrategy, has x.com/saylor/status/1816474622604501360?s=46″ rel=”nofollow”>commemorated MARA’s latest bitcoin purchase and its 20,000 btc milestone. The popular bitcoin billionaire has urged Marathon Digital to increase its holdings to 26,200 btc, making a clever reference to the standard marathon distance of 26.2 miles.
bitcoin mining giant reveals complete HODL strategy
MARA also announced its decision to adopt a bitcoin-hodlers-unfazed-30-supply-dormant-5-years/” rel=”nofollow”>complete HODL strategy for its bitcoin treasury, with the goal of holding all btc mined during operations rather than selling them. Additionally, the company revealed that it will periodically make strategic purchases on the open market to further increase its considerable holdings.
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Fred Thiel, MARA's chairman and CEO, emphasized the company's strong belief in bitcoin-long-term-growth-at-200000/” rel=”nofollow”>The long-term value of btcencouraging governments and corporations to consider bitcoin-status-faces-criticism-from-todd-phillips/” rel=”nofollow”>btc as a reserve assetHe explained that MARA considers bitcoin to be the best treasury reserve asset globally and supports the idea of sovereign wealth funds owning the pioneering cryptocurrency.
Furthermore, Salman Khan, MARA’s CFO, revealed that the bitcoin mining company once held all of its bitcoins. However, due to recent market conditions, increased institutional interest, and an improving macroeconomic environment, MARA decided to return to a full HODL strategy.
Featured image created with Dall.E, chart from Tradingview.com
