Based on current exchange rates and MARA’s balance sheet holdings, it could be estimated that its recent acquisition totaled about 1,500 BTC. While MARA has not disclosed the specific average price at which it acquired the $100 million worth of BTC, the Bitcoin mining giant announced that it will be adopting a full Hold On For Dear Life (HODL) approach towards its Bitcoin treasury policy. Furthermore, Michael Saylor, co-founder and former Chief Executive Officer (CEO) of MicroStrategy, has commemorated MARA’s latest Bitcoin purchase and its 20,000 BTC milestone.
Additionally, the company revealed that it will be periodically making strategic open market purchases to further increase its considerable holdings. Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here’s Why Fred Thiel, MARA’s chairman and CEO, emphasized the company’s strong belief in BTC’s long-term value, encouraging governments and corporations to consider BTC as a reserve asset.
The popular Bitcoin billionaire has urged Marathon Digital to increase their holdings to 26,200 BTC, cleverly referencing the standard marathon distance of 26.2 miles. Bitcoin Mining Giant Unveils Full HODL Strategy MARA also announced its decision to adopt a full HODL strategy for its Bitcoin treasury, aiming to retain all the BTC mined during operations instead of selling it.
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