MARA Holdings Inc. continuously buys Bitcointo to increase the balance of the company reserve fund, despite the fact that the trade price of Bitcoin is now high.
MARA Holdings Inc. is a Nasdaq-listed publicly traded company. The main business of this company is primarily focused on Bitcoin & crypto mining and blockchain-related investments. Also, this company is popular for operating the largest crypto-mining operation in North America. The company utilises highly efficient Bitcoin mining equipment and renewable energy sources to mine Bitcoin.
On 23 Nov 2024, MARA Holdings purchased 5,771 BTC at an average trade price of $95,554. Now this company holds 33,875 BTC & its value is nearly $196 million.
With our 0% convertible note offering:– We acquired 5,771 BTC so far, at an average price of $95,554 per BTC.– 35% BTC Yield Per Share– Total owned BTC: ~33,875 BTC, currently valued at $3.4B based on a spot BTC price of $99k. pic.twitter.com/1agzZmLvZP
— MARA (@MARAHoldings) November 22, 2024
Notably, the company raised funds to buy Bitcoin by offering 0% convertible notes, just like Bitcoin bull firm MicroStrategy.
Michael Saylor, the chairman & former CEO of MicroStrategy firm, noted that MARA is a public company that’s fully focused on the Bitcoin standard.
$MARA is a company on the #Bitcoin Standard.
— Michael Saylor⚡️ (@saylor) November 22, 2024
Fred Thiel, the CEO & Chairman of MARA, said that his company generated nearly 35% yield by only investing in Bitcoin.
Team MARA made quick work of being active in the market and acquiring 5.7K bitcoin. Now at 35% bitcoin yield per share and a HODL valued at ~$3.4B based on $99,000 price. @saylor
— Fred Thiel (@fgthiel) November 22, 2024
Bitcoin price $99k level
Usually, it is a basic investment strategy for any individual/company in any type of volatile market investment to not invest at high prices, but significant investment in Bitcoin at a very high price shows the level of FOMO (fear of missing out on opportunity) among the top companies in the US.
Today, Bitcoin was trading at $99,543 & the current trade price of Bitcoin is $98,788, which is 8% higher than in the last 7 periods.
The current trade price of #Bitcoin is $98k pic.twitter.com/1EtpBIIbGL
— Bitcoinik (@Bitcoinikdotcom) November 22, 2024
Read also: Gary Gensler officially announcement departure, Donald Trump Plans Advisory Committee On Crypto
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