{"id":811439,"date":"2024-12-10T21:17:56","date_gmt":"2024-12-11T03:17:56","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/10\/time-to-buy-bitcoin-mara-acquires-1-1-billion-in-btc\/"},"modified":"2024-12-10T21:17:56","modified_gmt":"2024-12-11T03:17:56","slug":"time-to-buy-bitcoin-mara-acquires-1-1-billion-in-btc","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/10\/time-to-buy-bitcoin-mara-acquires-1-1-billion-in-btc\/","title":{"rendered":"Time to Buy Bitcoin? MARA Acquires $1.1 Billion in BTC"},"content":{"rendered":"
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A leading Bitcoin (BTC) mining firm, Marathon Digital Holdings (MARA), has acquired a significant 11,774 BTC for $1.1 billion, as reported by MARA on X (formerly Twitter). MARA made these purchases during a recent market dip, acquiring BTC at an average cost of $96,000 each.<\/p>\n

MARA\u2019s Bitcoin Holding\u00a0<\/strong><\/h2>\n

With this notable BTC acquisition, MARA\u2019s total Bitcoin holdings have soared to 40,435 BTC. Additionally, the firm has achieved a BTC yield of 12.3% quarter-to-date (QTD) and 47.6% year-to-date (YTD) so far. To fund this significant acquisition, MARA issued zero-coupon convertible notes, a type of loan that can later be converted into company shares.<\/p>\n

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Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 11,774 BTC for ~$1.1 billion at ~$96,000 per #bitcoin<\/a> and has achieved BTC Yield of 12.3% QTD and 47.6% YTD. As of 12\/9\/2024, we hold 40,435 BTC, currently valued at $3.9 billion based on a\u2026 pic.twitter.com\/2uvnrhbxaP<\/a><\/p>\n

\u2014 MARA (@MARAHoldings) December 10, 2024<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

This post on X has garnered massive attention from the crypto community, with Michael Saylor, the founder and chairman of MicroStrategy (MSTR), reposting it while highlighting MARA\u2019s BTC yield of 47.6% YTD. Notably, this significant acquisition follows MicroStrategy\u2019s recent purchase of 21,550 BTC for $2.1 billion on December 9, 2024.<\/p>\n

These massive acquisitions by industry giants like MARA and MSTR suggest a strategic \u201cbuy-the-dip\u201d technique.<\/p>\n

Bitcoin (BTC) Current Price Momentum<\/strong><\/h2>\n

Currently, BTC is trading over 6% below its recent all-time high. At press time, BTC is trading near $97,780 and has experienced a price decline of over 1.25% in the past 24 hours. During the same period, its trading volume surged by 70%, indicating heightened participation from traders and investors amid the recent price drop.<\/p>\n

Expert Views on BTC<\/strong><\/h3>\n

Some experts on X have shared their opinions, suggesting that the current market conditions represent a discount, making it an ideal time to buy cryptocurrencies.<\/p>\n

However, BTC is currently positioned at a crucial support level of an ascending trendline, signaling a potential buying opportunity.<\/p>\n

\"Bitcoin<\/a>
Source: Trading View<\/figcaption><\/figure>\n

Historically, whenever the asset\u2019s price comes to this level, it tends to experience significant buying pressure and upward momentum. Experts and analysts anticipate a similar bullish move in the near future based on this historical pattern.<\/p>\n<\/div>\n

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We’d Love to Hear Your Thoughts on This Article!<\/h2>\n
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Was this writing helpful?<\/h4>\n<\/div>\n<\/div><\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

A leading Bitcoin (BTC) mining firm, Marathon Digital Holdings (MARA), has acquired a significant 11,774 BTC for $1.1 billion, as reported by MARA on X (formerly Twitter). MARA made these purchases during a recent market dip, acquiring BTC at an average cost of $96,000 each. MARA\u2019s Bitcoin Holding\u00a0 With this notable BTC acquisition, MARA\u2019s total<\/p>\n","protected":false},"author":1,"featured_media":811440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2405,4041],"tags":[],"class_list":{"0":"post-811439","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-acquires","8":"category-bitcoin"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=811439"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/811440"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=811439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=811439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=811439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}