Bitcoin mining company MARA, also known as Marathon Digital, has expanded its cryptocurrency holdings by acquiring an additional 703 BTC. This purchase raises the company’s total BTC holdings to 34,794.
The newly acquired Bitcoins are valued at approximately $3.3 billion, with the recent purchase following last week’s acquisition of 5,771 BTC. The CEO of MARA, Fred Thiel, shared a bullish outlook for Bitcoin, expressing optimism about increased interest from institutional investors.
The firm has also reserved $160 million to potentially buy more Bitcoin when market conditions are favorable. MARA's stock value saw a 7.81% increase, supported by improved sentiment in the digital asset market.
There is enthusiasm in the crypto community about Bitcoin potentially surpassing $100,000, with companies like MicroStrategy also aggressively purchasing the cryptocurrency. This trend is seen as a strategic move by companies anticipating favorable regulations from a possible Trump administration in the US.
Bitcoin is currently trading at $95,615, up 1% in the last 24 hours, highlighting ongoing positive sentiment in the market.
