HODL

2024

Bitcoin

DeFi

<div class="intro-text">
 U.S. based Bitcoin Miner, Marathon Digital has announced that it has purchased $100,000,000 worth of $BTC and currently holds over 20,000 $BTC in its portfolio. 
</div>
According to a <a style="color: #0000ff;" href="https://www.globenewswire.com/news-release/2024/07/25/2918789/0/en/MARA-Purchases-100-Million-of-Bitcoin.html" rel="noopener noreferrer nofollow">press release</a> published on Thursday, July 25, 2024, the firm noted that it will implement a HODL approach towards its Bitcoin treasury policy, holding all the Bitcoin assets mined in its operations. The firm added that it will also occasionally make strategic open market purchases, with time.&nbsp;
Fred Thiel, Chief Executive Officer and Chairman, said that the firm’s decision to adopt a full HODL approach on BTC reflects its confidence in the long-term value of the asset. He also added that they believe that Bitcoin is the world’s best reserve asset and they support the concept of treasury wealth holding the asset. Also, Thiel suggested that firms should also consider investing in Bitcoin as a reserve asset.&nbsp;
The company’s Chief Financial Officer, Salman Khan, noted that before last year, the firm used to hold all its Bitcoin assets. He noted that thanks to Bitcoin’s existing tailwinds, such as more institutional supports and better macro environment, the firm is once again seeking to implement this strategy.&nbsp;
Khan added that the firm is looking at increasing the amount of assets in their portfolio. He noted that Bitcoin’s recent price decline and the strength of Marathon’s balance sheet enabled them to make this latest purchase.&nbsp;
The year 2024 has proven to be an impressive year for Marathon Digital, as it has recorded notable achievements in the past months. In May, <a href="https://defi-planet.com/2024/05/marathon-digital-set-to-join-sp-smallcap-600-shares-jump-18/" rel="noopener noreferrer nofollow">the firm joined S&amp;P SmallCap 600, as its shares leaped by 18%.</a> As per the report, MARA would replace Aaon, a heating and ventilation manufacturer in the index.&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/07/marathon-digital-purchases-100m-worth-of-bitcoin-adopts-full-hodl-strategy/" rel="noopener noreferrer nofollow">Marathon Digital Purchases $100M worth of Bitcoin, Adopts Full HODL Strategy</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Marathon Digital Purchases $100M worth of Bitcoin, Adopts Full HODL Strategy

DeFi Planet

Other articles published on Jul 25, 2024

Sandbox launches ‘Rise of the Memecoins’ VoxEdit Contest

Ethereum Spot ETF Hype: ETH Whale Activity 64% More Than BTC

Ripple Presents Project For Data Authentication In AI Systems Via XRP Ledger

Bitcoin Tumbles 3%, Ethereum Plunges Below $3,200: What Is Going On With ETFs?

Australia’s Big Banks Block Crypto Payments Amid Rising Crypto Popularity

Metaplanet Secures License for Bitcoin Magazine Japan

Join our free newsletter for daily crypto updates!