MARA announced that it has purchased $100M of bitcoin and currently holds over 20,000 BTC on its balance sheet. Furthermore, effective immediately, MARA will adopt a full HODL approach towards its bitcoin treasury policy, retaining all bitcoin mined in its operations, and will periodically make strategic open market purchases. “Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin,” said Fred Thiel, MARA’s chairman and CEO. “We believe bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold bitcoin as a reserve asset.”
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MARA:
- MARA Schedules Conference Call for Second Quarter 2024 Financial Results
- SEC requests final S-1 submissions for Ether ETF, Cointelegraph says
- Here’s What You Missed in Crypto This Week
- Marathon Digital price target raised to $20 from $18 at B. Riley
- Marathon Digital reports June captured blocks up 10% from last year