Marathon Digital Holdings has acquired $100 million worth of Bitcoin over the past month.
The world’s largest Bitcoin (BTC) miner has been acquiring BTC as a strategic treasury reserve asset.
Marathon plans to go “full hodl,” which is crypto slang for “hold on for dear life,” Fred Thiel, the CEO and chairman of Marathon Digital, announced in a July 25 X post:
“Today Marathon is proud to announce that to strengthen our strategy of holding Bitcoin as our strategic treasury reserve asset, we have over the past month purchased $100 million in BTC, and will now go full HODL @saylor.”
The Bitcoin selling patterns of large holders, like mining firms, can have a significant impact on Bitcoin’s price, especially since the 2024 Bitcoin halving, which may still force miners to sell more BTC due to the block rewards being cut in half.
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This is a developing story, and further information will be added as it becomes available.
