Marathon Digital, a Bitcoin mining giant, purchases $100 million in BTC and unveils new ‘Full HODL’ strategy
Digital asset technology company Marathon Digital (MARA) is increasing its Bitcoin (BTC) holdings.
In a statement, the Florida-based company announced the purchase of $100 million worth of Bitcoin, bringing its total holdings to over 20,000 BTC valued at more than $1.3 billion.
The company, which specializes in cryptocurrency mining, intends to continue buying Bitcoin on the open market and retain all BTC mined as part of its full hold strategy towards its Bitcoin treasury policy.
MARA’s chairman and CEO Fred Thiel expressed confidence in Bitcoin’s long-term value, stating, “We believe Bitcoin is the world’s best treasury reserve asset and encourage governments and corporations to hold it as a reserve asset.”
While the company previously held all of its Bitcoin but changed its strategy last year, the recent decline in Bitcoin’s price has allowed MARA to increase its holdings.
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Please note that the opinions expressed on The Daily Hodl are not investment advice, and investors should conduct their own research before engaging in high-risk investments in Bitcoin or other digital assets.
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