Marathon Digital Holdings (MARA) has grown its cryptocurrency collection by buying 11,774 BTC for $1.1 billion. Now, it holds a total of 40,435 BTC.
MicroStrategy, the biggest public holder of Bitcoin, recently announced that it bought 21,550 BTC for $2.1 billion. MARA recently bought something using money from selling zero-coupon convertible notes, as stated in a recent SEC filing.
Public companies are increasingly investing in Bitcoin, and MARA has seen a 47.6% return on its Bitcoin investments this year. MARA bought Bitcoins for about $96,000 each, making their total holdings worth around $3.9 billion at current market prices.
Michael Saylor, the co-founder of MicroStrategy, praised MARA’s strong returns and pointed out the competition between the two companies. On December 10, Bitcoin’s price was around $96,000, which is a small drop from its recent high of almost $103,650.
Bitcoin’s value changes often align with important corporate choices, like a key Microsoft shareholder vote about possibly adding Bitcoin to its treasury. Big companies are buying a lot of Bitcoin, showing that more institutions see crypto as a valuable asset.
