Bitcoin

Impact

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<p>MARA Holdings, the world’s largest publicly traded Bitcoin miner, has significantly expanded its cryptocurrency reserves by purchasing 6,474 Bitcoins worth approximately $615 million.</p>
<h2 id="mara-bought-615-million-worth-of-bitcoin-increasing-its-assets-to-34-794-btc">MARA Bought $615 Million Worth of Bitcoin, Increasing Its Assets to 34,794 BTC</h2>
<p>According to its latest announcement, this acquisition brings the company’s total bitcoin holdings to 34,794 BTC, worth approximately $3.3 billion.</p>
<h3 id="purchase-details">Purchase Details</h3>
<p>Average Purchase Price: $95,395 per Bitcoin</p>
<p>Increased Purchases: The latest purchase includes an additional 703 BTC purchased following the initial purchase of 5,771 BTC made last week.</p>
<p>Funding Source: The purchases were funded through a $1 billion offering of 0% convertible senior notes due 2030 that closed last week.</p>
<p>MARA said it plans to allocate approximately $199 million of the funds raised to repurchase existing convertible notes due in 2026. The remaining proceeds, approximately $160 million, are earmarked for further Bitcoin purchases and corporate initiatives.</p>
<h3 id="market-impact-and-stock-performance">Market Impact and Stock Performance</h3>
<p>Stock Move: MARA shares closed up 7.81% at $26.92 on Wednesday. The stock has gained 42.13% in the past month and is up 17.4% year-to-date with a current market cap of $9 billion, according to Google Finance.</p>
<p>Industry Activity: MARA’s strategic Bitcoin purchases come amid a wave of high-profile investments in the cryptocurrency by public companies.</p>
<h3 id="broader-market-context">Broader Market Context</h3>
<p>MicroStrategy’s Record Purchase: Earlier this month, another institutional bitcoin giant, MicroStrategy, purchased 55,500 BTC for approximately $5.4 billion, bringing its total holdings to 386,700 BTC.</p>
<p>SOS Ltd.'s Entry: Chinese firm SOS Ltd. announced plans to invest $50 million in Bitcoin, sending its stock price up 42.88% on Wednesday.</p>
<p>*This is not investment advice.</p>
<p><b> Continue Reading: <a href="https://en.bitcoinsistemi.com/after-microstrategy-another-company-announced-that-it-bought-a-large-volume-of-bitcoin-here-are-the-details/" rel="noopener noreferrer nofollow">After MicroStrategy, Another Company Announced That It Bought a Large Volume of Bitcoin! Here Are the Details</a></b></p>

After MicroStrategy, Another Company Announced That It Bought a Large Volume of Bitcoin! Here Are the Details

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