Key Takeaways:
- Marathon Digital Holdings adopts a “full HODL” strategy, refraining from selling BTC mined in June, and acquiring $100 million worth of Bitcoin.
- Marathon’s Bitcoin holdings surpass 20,000 BTC, valued at $1.28 billion, showing confidence in Bitcoin’s long-term value despite recent price struggles.
- U.S. spot Bitcoin ETFs experienced net negative outflows on July 23, followed by $44.5 million in inflows on July 24.
Marathon Digital Holdings, the world’s largest Bitcoin miner, is bullish on Bitcoin’s long-term value, adopting a “full HODL” strategy and not selling any of the BTC mined in June.
Over the past month, Marathon acquired $100 million worth of Bitcoin, boosting its holdings to over 20,000 BTC valued at $1.28 billion.
Today, we are announcing that MARA has purchased $100,000,000 worth of BTC. And effective immediately, we are once again adopting a full HODL strategy. Learn more about our #Bitcoin Strategic Reserve: pic.twitter.com/pYxiclOtQa
— MARA (@MarathonDH) July 25, 2024
This move reflects confidence in Bitcoin’s future despite recent price struggles, with BTC falling over 3.6% to $64,093 on July 25.
The company aims to strengthen its treasury reserve asset by holding Bitcoin.
JUST IN: 🇺🇸 Bitcoin Miner Marathon Digital has purchased $100 million worth of #BTC
— Bitcoin Magazine (@BitcoinMagazine) July 25, 2024
They now hold over 20,000 BTC 🙌 pic.twitter.com/5hA9giLQZ8
Despite a month-long price decline, Marathon remains committed to its HODL strategy, though it may sell BTC in the future for operational and corporate needs.
Meanwhile, U.S. spot Bitcoin ETFs saw their first net negative outflows on July 23, but rebounded with $44.5 million in inflows on July 24.
About The Author
Victor Fawole, a seasoned Web3 content creator and social media influencer, excels in bringing the pulse of the crypto world to our readers.
With a keen eye for emerging trends and a talent for engaging storytelling, Victor’s articles offer a fresh perspective on the ever-evolving digital currency landscape.
Check Victor out on:
