As a seasoned investor with a keen eye for trends and a knack for spotting opportunities, I find myself both intrigued and slightly vexed by the latest moves of MicroStrategy and Marathon Digital Holdings in the Bitcoin market.
MicroStrategy has made another significant stride by purchasing approximately $1.1 billion in Bitcoin, bringing their total holdings to an astounding $14.3 billion. This recent purchase places them among the top holders of Bitcoin, owning around 1.17% of all Bitcoins currently in circulation, thereby reinforcing their status as the largest corporate Bitcoin owner.
In addition to its strategic moves, MicroStrategy also initiated a $700 million bond sale, due for repayment in 2028. By participating in this offering, lenders can receive interest payments and gain potential benefits from MicroStrategy’s involvement with the Bitcoin market’s fluctuations.
Notably, Fred Thiel, the CEO of Marathon Digital Holdings, commented on this recent event, pointing out that MicroStrategy’s significant purchase leaves less Bitcoin for other parties to obtain. Having just acquired an additional 5,000 Bitcoins themselves, Marathon now owns a total of 26,200 BTC, valued at approximately $1.5 billion.
In this context, our company ranks as the second largest publicly-held Bitcoin owner, with MicroStrategy slightly ahead.
As I continue to expand my own Bitcoin holdings with Marathon, it’s now clear that we control approximately 0.12% of the entire Bitcoin supply. The fierce competition between Marathon and MicroStrategy for Bitcoin ownership serves as a testament to a broader trend in the corporate sector – an increasing interest in cryptocurrencies, as companies are actively seeking their piece of the pie in this exciting digital market.
Over the last year, public companies have significantly boosted their Bitcoin investments, growing their holdings from approximately 272,770 Bitcoins to 333,329 Bitcoins. This trend indicates a rising curiosity towards digital assets. Simultaneously, ETFs and funds have also seen an increase in Bitcoin reserves. In the same timeframe, their total Bitcoin reserves skyrocketed from around 771,000 Bitcoins to more than one million Bitcoins.
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2024-09-17 15:47