Marathon Digital Holdings, now known as MARA, has announced a strategic shift to hold all its bitcoin, pushing its current holdings beyond 20,000 BTC. The company has also made a $100 million purchase of bitcoin as part of its new treasury policy.
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Marathon Digital Rebrands to MARA, Boosts Bitcoin Holdings
MARA (Nasdaq: MARA), a leader in digital asset computation, has announced a major update to its treasury policy, deciding to hold all bitcoin (BTC) it mines and periodically make strategic open market purchases. This move comes as the company rebrands from Marathon Digital Holdings and aims to enhance its balance sheet with bitcoin.
Currently, MARA holds over 20,000 BTC, equivalent to approximately $600 million, showcasing its confidence in bitcoin as a leading reserve asset. Fred Thiel, MARA’s chairman and CEO, emphasized the company’s belief in bitcoin’s long-term value. “Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin,” said Thiel.
The MARA CEO added:
We believe bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold bitcoin as a reserve asset.
Chief Financial Officer Salman Khan noted that the recent price decline and a strong balance sheet provided an opportunity to bolster their bitcoin holdings. Similar to Microstrategy and others, MARA’s strategy reflects growing institutional support for bitcoin and an improving macroeconomic environment, positioning the company to leverage its technological expertise in the distributed digital asset ecosystem.
What do you think about MARA’s full hodl strategy? Share your thoughts and opinions about this subject in the comments section below.
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