Tag: Bitcoin News

Mara Holdings (formerly Marathon Digital), a crypto mining and blockchain technology firm, has completed a $1 billion offering of 0% convertible senior notes due in 2030. The firm plans to use the proceeds for strategic investments, operational growth, and buying more BTC.

Mara Holdings noted that the total principal value of the notes issued during the offering reached $1 billion, incorporating $150 million in notes issued through an exercised purchase option.

The company further stated that the notes would be offered to persons reasonably believed to qualify as institutional buyers under Rule 144A of the Securities Act. Mara Holdings also noted that it will give a 13-day window starting from the date the notes were initially issued to the original buyers under the terms of the purchase agreement. The buyers fully utilized this option on November 19, 2024, with the additional transaction finalized on November 20, 2024.

Mara to Purchase Additional BTC

The increase in the note offering indicates growing institutional confidence in BTC as the crypto asset reached a new high. The digital asset is currently trading at above $97,400, up 3.82% in the last 24 hours.

Mara plans to allocate approximately $199 million of the net proceeds from the note offering to buy back $212 million in total principal value of its outstanding convertible notes maturing in 2026.

The notes will not accrue regular interest, and their principal value will remain unchanged. The company said it will retain the option to pay special interest, if applicable, as the exclusive remedy for non-compliance with its reporting obligations or under specific conditions outlined in the indenture. Any special interest, if applicable, will be disbursed semi-annually in arrears.

Noteholders have the right to demand that MARA repurchase all or part of their notes for cash either on December 1, 2027 or if specific events occur that qualify as a fundamental change under the terms of the indenture. The repurchase price will equal 100% of the notes’ principal value, along with any accrued and unpaid special interest up to, but not including, the repurchase date.

Institutions to Secure More BTC

The announcement comes after leading business intelligence company MicroStrategy plans to raise $2.6 billion from senior convertible notes at a 0% interest rate to acquire more BTC. The note sale was increased from the initially announced offering of $1.75 billion in aggregate principal amount of notes.

Starting December 4, 2026, and contingent upon specific conditions, MicroStrategy can repurchase some or all of the notes for cash at a price equivalent to 100% of their principal value, along with any accumulated and unpaid special interest.

Bitcoin (BTC), the world’s leading crypto, has made significant upward moves recently, following various predictions from many famous investors, analysts, and traders. The crypto reached a new all-time high of around $97,850.

Notably, BTC’s latest upward trajectory coincides with Trump’s latest move. He’s proposing a White House position dedicated to establishing and managing crypto policies in the U.S.

U.S. First Crypto Czar Role  

As reported by Fox Business, Trump is pressing for the establishment of an official crypto lead or czar position when he is inaugurated as the U.S. president by January. Whether it takes the form of a czar or a White House staff role, this will be a remarkable development in America’s crypto adoption.

According to officials familiar with the matter, the individual filling the role will be the “president’s ear” or the bridge between the president and the crypto community, receiving and providing him with necessary information about the industry.

Additionally, the official would regularly communicate with crypto-related regulators in the U.S., including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Donald Trump Drives Bitcoin Pump

Trump’s victory in the election has been a driving force behind Bitcoin’s upward trajectory. His vocal support for crypto during his presidential campaign, coupled with his promises, has resonated with many U.S. investors, fostering expectations of a crypto-friendly environment under his leadership.

Following his win, BTC has made many new all-time highs within a few weeks and is about $2,000 away from reaching six figures per coin. After reaching a new high this morning, the apex coin has settled at $97,000 at the time of writing.

Additionally, since their approval in January, U.S. Spot Bitcoin ETFs have attracted more investors this month than ever. The funds are on a seven-week inflow streak, and the last business day concluded with an intake of over $700 million.

Meanwhile, on Tuesday, the U.S.-based stock exchange Nasdaq listed options for trading in BlackRock’s Bitcoin ETF, IBIT, allowing investors to speculate on the price of the crypto using derivatives.

Japan-based investment company Metaplanet has acquired an additional 124.117 BTC, worth approximately $11.4 million, at $90,750 per bitcoin, to combat inflation in the country.

This move comes just a few hours after the firm announced that it has raised funds from its third series of ordinary bond issuance, of which secure yield returns are expected to mature by November 17, 2025.

Metaplanet’s latest purchase brings the company’s total Bitcoin holding to 1,142 BTC, which is valued at an approximate cost of $74.1 million. The company’s total Bitcoin holding was bought at $65,038 for one BTC.

*Metaplanet purchases additional 124.11 $BTC* pic.twitter.com/4QLVrsGTei

— Metaplanet Inc. (@Metaplanet_JP) November 19, 2024

Metaplanet Adopts Bitcoin

In May 2024, the Japanese firm mentioned officially adopting Bitcoin as a major Treasury Reserve Asset to combat the financial and economic crisis and the high volatility facing the Japanese yen.

Since then, Metaplanet has taken a bullish stance for Bitcoin. Securing hundreds of units of the pioneer crypto, the publicly traded firm has been on a BTC shopping spree, leading digital asset adoption in Japan. Between May and today, the Bitcoin-friendly investment firm has topped its BTC appetite with more bitcoins.

For instance, on July 1, 2024, the Japanese company bought an additional 20 BTC worth $1.2 million. In early August, Metaplanet borrowed an aggregate of $6.8 million from one of its Shareholders, MMXX Ventures Limited, channeled to the BTC acquisition. On October 1, 2024, Metaplanet paid back the loan before the scheduled date.

Institutional Investors Hodl BTC at High Esteem

In recent developments, adopting Bitcoin as a hedge against economic crisis and inflation has been a major driving force for institutional investors. MicroStrategy, like Metaplanet, has also been a series of Bitcoin acquisition sprees.

Less than 24 hours ago, MicroStrategy spent $4.6 billion, adding $51,780 to its BTC stash, bringing the company’s total bitcoin Hodling to 331,200 BTC. The latest big buy comes after over four years of continuous BTC accumulation, a practice that has made MicroStrategy the largest corporate BTC holder.

American Bitcoin miner Mara (formerly Marathon Digital) plans to raise $700 million to expand its Bitcoin holdings. The firm’s move shows its confidence in BTC’s long-term potential despite the asset’s recent price hike.

Mara to Purchase More BTC

The Bitcoin miner plans to raise the funds by offering equivalent convertible senior notes due 2030 in a private offering to qualified institutional buyers. The notes will be unsecured, senior obligations of Mara, bearing interest payable semi-annually and maturing on March 1, 2030.

The company may redeem the notes starting March 5, 2028, and holders can require repurchase on December 1, 2027. The firm assured that the notes would be convertible into cash, shares of the company’s stock, or a combination at Mara’s election. The interest rate, initial conversion rate, and other terms will be determined at pricing.

Mara expects to use up to $200 million of the proceeds to repurchase existing convertible notes due 2026. Holders will likely sell their hedged investments, buy Mara’s stock, and engage in derivatives. The company believes this activity could impact its stock price, including during the notes’ pricing. The remainder of the funds will be used to acquire additional bitcoins.

The American Miner reminded the public that the offering is subject to market conditions and that completion is not assured. It added that the notes and shares issuable upon conversion will not be registered under the Securities Act or other jurisdictions’ securities laws and may only be offered or sold within applicable exemptions.

Meanwhile, Mara’s current $700 million convertible senior notes offering is not the first time the company has utilized this market instrument to fund Bitcoin purchases. In August, the firm made a similar move for a $250 million offering, which was used to acquire additional BTC and cater to other general corporate purposes.

Institutions Bag More BTC

With its current price at $92,371 and a market capitalization of over 1.82 trillion, Bitcoin remains the most widely recognized crypto. Institutions are accumulating more Bitcoins, as public companies like MicroStrategy hold substantial Bitcoin portfolios.

Today, Metaplanet, a Japanese investment firm, announced its raise of $11.3 million to purchase additional bitcoins. MicroStrategy also publicized its acquisition of 51,780 BTC following last week’s purchase of 27,200 BTC worth over $2 billion.

The crypto market, including bitcoin (BTC), has experienced significant growth following Donald Trump’s victory in the United States presidential election on November 5.

BTC is showing renewed strength, with its price edging closer to a predicted $100,000 milestone. Recent market trends suggest that retail investors are playing a significant role in driving this bullish momentum, which signals a potential shift in the crypto sector.

In a recent X post, CryptoQuant CEO Ki Young Ju noted that transaction volumes under $100,000 have surged to a three-year high.

Bitcoin Retail Investors

This pattern is reflected in the dominance of smaller transaction sizes, indicating a surge in activity from retail investors rather than large institutional entities. The increase coincides with the crypto asset’s latest price surge.

The CryptoQuant CEO also noted that Bitcoin transactions have exceeded $1 million, seeing an uptick. The executive believes that large investors might be holding off a greater influx of retail participants, particularly as bitcoin approaches $100,000.

He further added that while some price pullbacks are possible, he doubts they will trigger a bear market. Instead, he views this as the beginning of bigger market activity fueled by increasing engagement from both retail and institutional investors.

Bitcoin Has a Long Way To Go

Bitcoin climbed to an all-time high above $90,000 in the past week. The milestone has stirred confidence in the crypto market and profited several investors. Following a short period of profit-taking, the digital asset is edging closer to this significant level. As such, ARK Invest CEO Cathie Wood noted that Bitcoin still has “a long way to go.”

During a recent interview, Cathie Wood shared that ARK Invest made its initial Bitcoin investment at $250 in 2015. Even with prices at $90,000, she maintains a positive outlook, citing improved regulatory oversight under the present U.S. administration as a key driver of BTC growth.

The CEO further emphasized that Bitcoin is solidifying its position as a unique asset category. Its distinct performance compared to conventional investments increasingly draws institutions’ attention, driving wider acceptance. She predicted bitcoin’s value could climb to $650,000 by 2030.

Similarly, Quinn Thompson, the founder of crypto hedge fund Lekker Capital, also noted that Bitcoin is just getting started and further predicted that the digital asset is on track to reach the much-anticipated $100,000 mark. While he is optimistic this milestone will be achieved by the end of the year, he is also confident that it could happen by the end of this month.

Thompson stated that the market recognizes a major shift as U.S. authorities move from opposing to embracing crypto.

Polish presidential candidate Sławomir Mentzen has gone pro-crypto as part of his election campaign, following in the footsteps of Donald Trump in America. He has pledged full support for crypto as a store of value and promised to establish a Bitcoin reserve for Poland if the forthcoming presidential election favors him.

Mentzen Wants Polish Bitcoin Reserve

According to Mentzen, Poland should create a Strategic Bitcoin Reserve. If he becomes Poland’s new president after the May 2025 election, he plans to accomplish that.

“If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators,” he said.

Driven by foreign investments and growing domestic consumption, Poland’s economy has experienced remarkable growth. Its gross domestic profit (GDP) has tripled to over $546 billion within 20 years.

Despite the successes, the pro-crypto candidate believes that a Bitcoin reserve will help boost the country’s finances and solve some of its economic problems, including dependence on foreign capital and technology.

Notably, Mentzen is campaigning for the presidency from an unpopular political party. Therefore, his positive crypto stance is a strategic move to fetch him the support of crypto-inclined Poles.

Poland’s Crypto Stance

Poland’s crypto industry appears positive, as Polish governance has taken a relatively relaxed stance on crypto regulations. Its favorable outlook allows investors, firms, and traders to operate within its borders seamlessly.

While Poland may not be a trendy, crypto-supportive country, it houses about nine crypto exchanges, including Binance, a leading global crypto exchange; Coinbase, which has over 43 million users; and the famous Kraken.

Mentzen Holds BTC

According to Comparic, a Polish local news media, Mentzen has maintained a crypto portfolio for the past decade. In 2013, he invested all his money in BTC.

“I have been holding Bitcoins for years. I have been holding cryptocurrencies. I bought them back in 2013. At the beginning of this year, I sold a little bit, but I hold the vast majority,” Mentzen stated.

He also noted that while crypto investment may be risky, it has a high chance of yielding profits, so he is hodling his bitcoins with no plans to sell anytime soon.