Bitcoin Strategy: Marathon Digital's Major Investment
The world's largest mining company, Marathon Digital, recently made headlines by acquiring 6,474 Bitcoin for a total of $615 million. This acquisition is part of their "Full-Hodl-Strategy," as reported by BTC-ECHO. The purchase was executed in two phases: initially acquiring 5,771 BTC, followed by an additional 703 BTC at an average price of $95,395 per coin.
This strategic decision positions Marathon as the second-largest corporate Bitcoin holder after MicroStrategy. Marathon currently holds approximately 34,797 Bitcoins valued at around $3.32 billion USD, reflecting confidence in long-term market trends despite resistance levels near the $100k mark for Bitcoin prices.
Marathon Digital Expands Its Holdings Amidst Market Volatility
According to wallstreet:online, Marathon Digital is significantly increasing its cryptocurrency reserves through substantial investments funded by convertible notes worth one billion dollars. These funds are partially used to repurchase debts amounting to two hundred million dollars, while retaining about one hundred sixty million in capital specifically intended for future market dips. This approach acknowledges the volatility in crypto markets, which, if managed wisely, can be rewarding with future events like the upcoming halving cycles traditionally associated with bullish trends.
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