Popular United States-based Bitcoin mining company MARA Holdings has announced the acquisition of 11,774 BTC, valued at over $1 million, through the proceeds from its 0% convertible notes offerings.
According to an official report, MARA acquired the asset for $96,000 per bitcoin and has achieved a BTC Yield of 12.3% QTD and 47.6% YTD. The purchase has further cemented the mining firm as one of the big players in the crypto sector. The miner currently holds 40,435 BTC, worth approximately $3.9 billion.
MARA Buys The Dip
The latest purchase came amid a BTC price dip, which fell from a record high of over $103,000 to below $99,000. MARA Holdings is capitalizing on the lower price point to boost its crypto asset portfolio. The company’s decision aligns with the strategy adopted by institutional investors, who view downturns as opportunities to accumulate assets at discounted rates.
Bitcoin has faced pullbacks in recent weeks, driven by market activities. However, the asset’s resilience continues to attract attention, particularly from institutional players who recognize its potential as a long-term investment strategy.
The acquisition also shows increasing corporate and institutional interest in digital assets, which has accelerated in recent years. MARA Holdings’ investment adds to the narrative of Bitcoin’s mainstream acceptance as a legitimate asset class.
Bitcoin As a Reserve Asset
Over the past year, other Bitcoin mining companies like Riot have invested significantly in the crypto asset. For instance, on December 9, 2024, the firm plans to raise $500 million from senior convertible note sales. The firm stated that the offering would occur through a private offering. The cash raised will be injected into its BTC stash. This move further cements the mining firm’s belief in the leading crypto as a long-term investment strategy.
With the alarming rise in bitcoin investment, corporations like MicroStrategy have gone deep into their pockets. The business intelligence company recently purchased 21,550 BTC for approximately $2.1 billion. The acquisition, executed at an average price of $95,976, brings its total Bitcoin holdings to 423,650 BTC, valued at around $42 billion. With this big buy, the company now boasts over 2% of the Bitcoin supply.
As such, MicroStrategy’s co-founder, Michael Saylor, urged the United States to sell all the gold held in its reserve worth around $500 billion and convert to a strategic Bitcoin reserve, acquiring the crypto as a store of value for the country.
Saylor noted that Bitcoin is establishing itself as the global reserve asset framework, and many professional and institutional investors are recognizing its potential for long-term growth and are actively moving to incorporate it as a foundational reserve holding.
