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    Home»Bitcoin»Bitcoin Mining Giant Marathon Digital Buys $100,000,000 Worth of BTC, Announces New ‘Full HODL’ Strategy
    Bitcoin

    Bitcoin Mining Giant Marathon Digital Buys $100,000,000 Worth of BTC, Announces New ‘Full HODL’ Strategy

    July 26, 20242 Mins Read


    Digital asset technology company Marathon Digital (MARA) is stocking up its Bitcoin (BTC) holdings.

    In a statement, the Florida-headquartered firm says it just bought $100 million worth of the flagship cryptocurrency and currently holds over 20,000 BTC on its balance sheet, which is currently worth over $1.3 billion.

    The cryptocurrency miner says that aside from buying more Bitcoin in the open market, it also plans to keep all of the BTC that it mines as it adopts a full hold on for dear life (HODL) approach towards its Bitcoin treasury policy.

    MARA’s chairman and CEO Fred Thiel says the full HODL strategy reflects the company’s confidence in the long-term value of Bitcoin.

    “We believe Bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold Bitcoin as a reserve asset.”

    The company used to hold all of its Bitcoin but this changed last year. MARA’s chief financial officer Salman Khan explains why the company re-adopting the strategy.

    “Given Bitcoin’s current tailwinds, including increased institutional support and an improving macro environment, we are once again implementing this strategy and focusing on growing the amount we hold on our balance sheet.”

    He says the recent decline in Bitcoin’s price enables the company to buy more BTC. The benchmark crypto asset is currently trading for $66,378.

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    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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