Marathon Digital Holdings, a large Bitcoin mining company, recently bought 6,474 Bitcoin worth about $619 million. The company got the money for this purchase by selling a special type of agreement called a convertible note, which has 0% interest. Now, Marathon Digital has a total of 34,794 Bitcoin, worth about $3.32 billion.
This shows that the company believes Bitcoin will be valuable in the future. Marathon Digital also bought back $200 million of its own convertible notes, which means they have less debt in the future. The remaining $160 million from this fundraising will be used to buy more Bitcoin if the prices go down.
This shows that the company is committed to buying more Bitcoin in the long term. By buying more Bitcoin, Marathon Digital joins other big companies like MicroStrategy, which has 386,700 Bitcoin in its reserve. These actions show that more and more companies are becoming interested in Bitcoin and other digital assets.
This acquisition by Marathon Digital raises questions about what will happen to Bitcoin’s price in the market. If more companies and institutions continue to invest in Bitcoin, it could reach higher prices in the future.
Source
<p>The post MARA Acquires 6,474 Bitcoin, Signals Institutional Investment first appeared on CoinBuzzFeed.</p>
