As a seasoned crypto investor with a knack for spotting promising opportunities, I find myself intrigued by MARA Holdings’ latest move. Having navigated through numerous market volatilities and witnessed the rise and fall of various digital assets, I can confidently say that MARA’s decision to invest $1.53 billion in Bitcoin during a market downturn is a bold yet calculated move.
MARA Holdings recently disclosed information regarding their Bitcoin holdings. In a submission to the Securities and Exchange Commission (SEC), MARA announced that they generated approximately $1.925 billion by offloading zero-coupon convertible notes in November and December of 2024.
MARA used its earnings from sales and spent approximately $1.53 billion to acquire 15,574 Bitcoins, with the average price per Bitcoin being around $98,529.
Consequently, MARA currently holds approximately 44,394 Bitcoins, with a total value of around 4.45 billion dollars, given an average market price of roughly $100,151 per Bitcoin as we stand today.
According to the documentation, MARA disclosed that it funded its Bitcoin acquisitions using the funds raised from selling zero-coupon convertible notes.
Additionally, it disclosed its Bitcoin earnings, demonstrating the fluctuations in its Bitcoin assets relative to its overall stock issuance. For this particular quarter, the company’s Bitcoin return was 22.5%, while for the whole year, it stood at a significant 60.9%.
Simultaneously, a fresh acquisition was carried out during a period when the cryptocurrency market was experiencing significant fluctuations. Yesterday, Jerome Powell stated that the central bank would not hold Bitcoin, leading to a broad selloff in the market. Regardless, MARA chose to proceed with their purchase, seemingly mirroring the strategies of large-scale Bitcoin investors like MicroStrategy.
By December 18, 2024, MARA’s Bitcoin holdings stand at approximately 44,394 Bitcoins, equating to a staggering worth of around $4.45 billion. They have announced their intention to continue purchasing Bitcoin throughout the following year.
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2024-12-19 20:21