Marathon Digital Acquires $100 Million in Bitcoin, Adopts Full HODL Strategy

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Cryptodnes2024/07/25 13:34

By:Cryptodnes

Marathon Digital (MARA) has announced a significant move, acquiring $100 million worth of Bitcoin and now holding over 20,000 BTC on its balance sheet.

Effective immediately, the company will adopt a HODL strategy, retaining all Bitcoin mined and making occasional strategic purchases.

Today, we are announcing that MARA has purchased $100,000,000 worth of BTC. And effective immediately, we are once again adopting a full HODL strategy. Learn more about our #Bitcoin Strategic Reserve: pic.twitter.com/pYxiclOtQa

— MARA (@MarathonDH) July 25, 2024

Fred Thiel, Chairman and CEO of MARA, emphasized the firm’s long-term confidence in Bitcoin, stating:

“Our decision to fully HODL underscores our belief in Bitcoin as a premier reserve asset.

We advocate for both governments and corporations to consider Bitcoin as a key part of their asset reserves.”

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MARA’s CFO, Salman Khan, noted the shift back to this strategy after previously liquidating holdings. He attributed the move to Bitcoin’s favorable market conditions and institutional support, alongside the recent price dip which provided a buying opportunity.

Khan highlighted MARA’s commitment to leveraging its technological expertise to support Bitcoin and the broader digital asset space.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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