News View Non-AMP

Marathon Digital Expands Bitcoin Holdings with $130 Million BTC Purchase

Published by
Mustafa Mulla

Bitcoin mining giant Marathon Digital Holdings (MARA) is once again capturing the market’s attention with its aggressive Bitcoin acquisition strategy. The company recently purchased 1,300 BTC, worth $130.66 million, in just seven hours! As Bitcoin struggles to push past the volatile $100,000 mark again, Marathon’s actions raise questions about market trends, institutional confidence, and the strategic plans of major players.

Why is Marathon doubling down on Bitcoin now? Let’s dive into the details.

Marathon’s Bitcoin Buying Spree

Marathon Digital isn’t slowing down. This latest purchase follows another one earlier this week, where the company secured 1,423 BTC, valued at $139.5 million. These two back-to-back acquisitions show Marathon’s strong belief in Bitcoin’s future potential, even as prices fluctuate in the short term.

To support its strategy, Marathon recently raised $850 million by offering convertible notes. This money will be used to purchase more Bitcoin and manage the company’s debt. Marathon’s strategy follows a similar path to MicroStrategy’s well-known Bitcoin buying plans, showing careful financial planning for long-term growth.

Whales & Institutions Are Driving Bitcoin Demand

Marathon isn’t alone in its strategic Bitcoin acquisitions. On-chain data shows that large investors, or whales, are actively buying during recent price dips. In just the past 24 hours, whales purchased 20,000 BTC, worth $2 billion, as prices dropped briefly to $96,000.

Institutional investors also remain very active. Spot Bitcoin ETFs, like BlackRock’s iShares Bitcoin Trust (IBIT), recently hit $50 billion in assets under management. This shows growing confidence among big financial players in Bitcoin’s potential.

Despite recent volatility, Bitcoin continues to show resilience. After falling to the $96,000 support level, Bitcoin has bounced back and is now trading near $99,776, up 1.17% over the past 24 hours.

Additionally, BTC Futures Open Interest has seen a small increase of 0.68%, now standing at $61.61 billion, according to CoinGlass data. This indicates that market sentiment remains hopeful as institutional interest and whale activity fuel positive momentum.

While short-term trading volumes have dipped, the steady flow of institutional capital and strong whale activity suggests that Bitcoin’s rally could still have room to grow. Keep your eyes peeled!

FAQs

Why is Marathon Digital buying so much Bitcoin?

Marathon Digital believes in Bitcoin’s long-term potential, securing BTC to strengthen its holdings despite short-term price fluctuations.

Who is driving Bitcoin demand in the market right now?

Large investors (whales) and institutional players, such as BlackRock’s Bitcoin ETF, are fueling demand, even during Bitcoin’s price dips.

What is the current market outlook for Bitcoin?

Despite volatility, Bitcoin remains resilient, with positive momentum driven by whale activity and institutional investments, pushing prices above $99,000.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Choosing Between Ripple (XRP) and Cardano (ADA)? ChatGPT’s 2025 Prediction Could Change Everything

Investors often face a tough choice between Ripple's XRP and Cardano's ADA as potential winners…

April 25, 2025

Solana Price Analysis: Key Insights and Updates

Bullish momentum has been building up for Solana, amid a highly anticipated altseason before the…

April 25, 2025

Solana (SOL) Price Stuck at a Major Resistance—Can it Reach $180 in May 2025?

The crypto market, since the beginning of the second fortnight of the month, has been…

April 25, 2025

Here’s When Altcoins Like XRP, ADA and DOGE Will Rally

The crypto market is consolidating after a strong rally earlier this week, with Bitcoin holding…

April 25, 2025

Best Crypto to Buy Now as XRP Price Rallies

The XRP price rally has created fresh momentum in the crypto market, as Bitcoin moves…

April 25, 2025

2 Best Cryptos To Buy Under $0.50 That Analysts Say Could Skyrocket in 2025

In a market known for rapid moves and unpredictable trends, finding cryptocurrencies under $0.50 with…

April 25, 2025