Donald Trump

Bitcoin

BlackRock

<ul class="wp-block-list">
 <li>Marathon Digital acquired 6,484 BTC for $618.3M between October and November, solidifying its position as the second-largest corporate BTC holder.</li>  
 <li>Bitcoin adoption grows as U.S. states and firms adopt it as a reserve asset; BlackRock leads ETFs with 521,375 BTC holdings.</li>  
 <li>Mining balances dropped 85,503 BTC in 48 hours, but analysts see no immediate price impact, calling it a neutral market indicator.</li> 
</ul>  
<p>Marathon Digital Holdings has cemented its position as a major player in the cryptocurrency market. The U.S.-based Bitcoin mining firm recently purchased 1,300 Bitcoin (BTC) for $130.66 million, capitalizing on Bitcoin’s brief surge past the $100,000 mark before settling near $99,200. This latest acquisition bolsters the company’s standing as the second-largest corporate holder of Bitcoin, trailing only MicroStrategy.</p>  
<h2 class="wp-block-heading" id="h-strategic-investments-bolster-marathon-s-portfolio"><strong>Strategic Investments Bolster Marathon’s Portfolio</strong></h2>  
<p>Notably, data from Lookonchain highlights Marathon’s significant spending spree in recent months. Between October 1 and November 30, the company acquired 6,484 BTC at an average price of $95,352 per coin, amounting to $618.3 million.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/lookonchain/status/1864856912002715786
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</figure>  
<p>More so, just days prior to its recent purchase, Marathon acquired 1,423 BTC for $139.5 million. These combined transactions represent a strategic allocation of $270.12 million, reflecting Marathon’s commitment to Bitcoin as a long-term asset.</p>  
<p>Additionally, Marathon completed an $850 million convertible note offering at 0% interest on December 4. The company disclosed plans to use the proceeds to further invest in Bitcoin, signaling confidence in the asset’s potential despite its fluctuating price.</p>  
<h2 class="wp-block-heading" id="h-corporate-and-state-adoption-gains-momentum"><strong>Corporate and State Adoption Gains Momentum</strong></h2>  
<p>Furthermore, Bitcoin’s integration into corporate and governmental strategies has <a href="https://cryptonewsland.com/marathon-digital-to-raise-250m-for/" target="_blank" rel="noopener noreferrer nofollow">gained </a>traction following political shifts in the U.S. With Donald Trump returning to office, several U.S. states and companies have announced plans to adopt Bitcoin as a reserve asset. This growing adoption underscores Bitcoin’s appeal as a hedge against economic uncertainties.</p>  
<p>In addition, the trend extends to the U.S.-based Bitcoin exchange-traded funds (ETFs), where demand continues to rise. BlackRock <a href="https://cryptonewsland.com/bitcoin-etfs-gain-77-62m-in-inflows-as-blackrock-leads-the-charge/" target="_blank" rel="noopener noreferrer nofollow">leads</a> the sector with 521,375 BTC under its management, reinforcing the increasing institutional interest in Bitcoin as a reliable asset class.</p>  
<h2 class="wp-block-heading" id="h-mining-balances-decline-amid-institutional-growth"><strong>Mining Balances Decline Amid Institutional Growth</strong></h2>  
<p>While corporate Bitcoin holdings have grown, mining balances have declined. Blockchain analysis platform Santiment reported an 85,503 BTC drop in collective mining balances within 48 hours.&nbsp;</p>  
<p>However, this decline has not significantly impacted market sentiment. Santiment described the shift as a neutral indicator for prices in the short term.</p> 
<p>The post <a href="https://cryptonewsland.com/marathon-digital-emerges-as-the-second-largest-corporate-bitcoin-holder-what-does-it-mean-for-bitcoin-price/" rel="noopener noreferrer nofollow">Marathon Digital Emerges as the Second-Largest Corporate Bitcoin Holder, What Does it Mean for Bitcoin Price?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Marathon Digital Emerges as the Second-Largest Corporate Bitcoin Holder, What Does it Mean for Bitcoin Price?

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