Bitcoin Institutional Investment 2024: MicroStrategy and Marathon Digital Take the Lead!

MicroStrategy shocked the crypto world yesterday with its largest-ever Bitcoin purchase of 55,500 BTC. This brings the company’s total Bitcoin holdings to nearly 386,700 BTC, worth around $36.5 billion. In just this month alone, MicroStrategy has bought more than 134,480 BTC.

But it’s not just MicroStrategy making big moves. Marathon Digital Holdings (MARA) also made significant Bitcoin purchases, adding to the growing interest from institutional investors.

Let’s take a closer look at what’s driving this surge.

Institutional Interest in Bitcoin Is Rising

The Bitcoin market is seeing a strong rise in institutional interest, with major players like MicroStrategy and Marathon Digital leading the way. These big purchases show that institutional investors are gaining more confidence in Bitcoin’s future.

Fred Thiel, CEO of Marathon Digital, recently pointed out how his company’s Bitcoin strategy mirrors that of MicroStrategy. Thiel also mentioned that many institutions are waiting for the right time to invest more in Bitcoin, showing how much trust institutional investors have in the asset. This growing interest comes after Bitcoin’s price shot up following Donald Trump’s victory in the 2024 U.S. presidential election.

The price spike, which saw Bitcoin breaking its all-time high (ATH), seems to have fueled institutional enthusiasm for Bitcoin.

MicroStrategy’s Bold Bitcoin Strategy

MicroStrategy’s Bitcoin strategy is one of the most well-known in the crypto world. As Thiel explained, the company recently raised over $3 billion through bond sales to fund its Bitcoin purchases. This strategy has proven to be a smart move. In just this month, MicroStrategy added more than 134,480 BTC to its holdings.

To put this in perspective, the company’s Bitcoin purchases this month include 27,200 BTC on November 11, 51,780 BTC on November 18, and its largest purchase—55,500 BTC—on November 25. So far in 2024, MicroStrategy has acquired over 197,559 BTC. The company’s first major Bitcoin purchase came in March, when Bitcoin was trading at around $12,000, just before the price surged to an ATH of $73,000. The timing of these purchases is also significant.

All three of MicroStrategy’s purchases this month happened after Bitcoin broke its previous ATH on November 6, when the price was at $88,739.08, and reached $93,012.66 by November 25.

Marathon Digital Follows a Similar Path

Marathon Digital Holdings has also been making big moves in the Bitcoin market. Thiel revealed that Marathon raised at least $1 billion at a 0% coupon to fund its Bitcoin purchases. Marathon’s Bitcoin holdings have increased from 25,945 BTC to 33,875 BTC, a rise of 7,930 BTC in just a short time. Marathon’s first major Bitcoin purchase was in February 2024 when it bought 15,741 BTC.

After Bitcoin’s mid-March peak, Marathon kept adding to its holdings, acquiring over 16,945 BTC. The company’s largest purchase to date was the 7,930 BTC it bought in November, with another large purchase of 4,144 BTC on August 15.

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Bitcoin’s Future? It Remains Bullish

While Thiel acknowledged that the Bitcoin market could experience price corrections in the future, he remains confident about the long-term trend. He emphasized that institutional purchases are providing consistent support for the Bitcoin market, which should keep the overall trend bullish.

FAQs

As more capital pours into Bitcoin, it will be interesting to see how far the token will go.