MARA already bought $3.3 B worth of bitcoins, taking a 'full HODL' approach

nelson4lov

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Quote from: freedomgo on Today at 04:19:03 PM

I wouldn’t be surprised if more companies start jumping on this bandwagon since it’s a clever way to balance risk and reward in this volatile market. The competition to accumulate Bitcoin is definitely heating up..

Microstrategy is winning. Who doesn't love a winning strategy? In an ideal world, everyone aspires to be a winner so I won't be surprised if more companies start adopting that playbook. With Bitcoin hitting $100K soon and US's pending treasury reserves in Bitcoin implementation, it's going to full FOMO season for Bitcoin.

Btw, I don't know much about selling convertible stocks notes so I'll have to read more on that. As long as they're buying bitcoin, looks good to me.

freedomgo

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They’re following the same playbook as MicroStrategy by selling convertible stocks. oh, it seems like this is becoming the go-to strategy for Bitcoin-focused companies. By doing this, they can raise funds to acquire more Bitcoin while limiting their direct risk exposure and maximizing potential rewards if Bitcoin’s price rises.

Marathon Digital proposes $700M convertible notes to acquire more Bitcoin

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- Marathon Digital plans to raise $700 million through convertible notes for Bitcoin acquisitions and debt refinancing.
- The notes offer conversion into cash or stock, with specific rights and early redemption options for holders.

I wouldn’t be surprised if more companies start jumping on this bandwagon since it’s a clever way to balance risk and reward in this volatile market. The competition to accumulate Bitcoin is definitely heating up..

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MARA bought $100 million worth of bitcoins, taking a 'full HODL' approach

Marathon Digital Holdings was founded in 2010 and has been mining Bitcoin ever since. In recent times Marathon (MARA) they have been buying bitcoins on a regular basis. They have even already purchased 34,794 Bitcoins.

Last November 25, MARA purchased a total of 6474 bitcoins with the convertible note offer. By slowly and regularly buying bitcoins they may become big investors in the world in the future as MicroStrategy has become.

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According to Bitcoin-only financial services firm River, 62 publicly traded companies use a Bitcoin treasury strategy as of November 2024.

Mining company MARA, formerly Marathon Digital, updated investors on Nov. 27, outlining its acquisition of 6,474 Bitcoin through its recent 0% $1 billion convertible note offering.

According to the announcement, the company purchased an additional 703 BTC following the initial purchase of 5,771 BTC at an average price of $95,395 per coin. The year-to-date, per-share yield of MARA’s BTC is 36.7%, and MARA currently holds roughly 34,797 BTC in its treasury, valued at approximately $3.3 billion.

https://cointelegraph.com/news/mara-purchases-6-474-bitcoin-convertible-notes-offering

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