Despite BTC trading at $99k Nasdaq-listed company MARA buying BTC

MARA Holdings Inc. continuously buys Bitcointo to increase the balance of the company reserve fund, despite the fact that the trade price of Bitcoin is now high.

MARA Holdings Inc. is a Nasdaq-listed publicly traded company. The main business of this company is primarily focused on Bitcoin & crypto mining and blockchain-related investments. Also, this company is popular for operating the largest crypto-mining operation in North America. The company utilises highly efficient Bitcoin mining equipment and renewable energy sources to mine Bitcoin.

On 23 Nov 2024, MARA Holdings purchased 5,771 BTC at an average trade price of $95,554. Now this company holds 33,875 BTC & its value is nearly $196 million.

Notably, the company raised funds to buy Bitcoin by offering 0% convertible notes, just like Bitcoin bull firm MicroStrategy.

Michael Saylor, the chairman & former CEO of MicroStrategy firm, noted that MARA is a public company that’s fully focused on the Bitcoin standard.

Fred Thiel, the CEO & Chairman of MARA, said that his company generated nearly 35% yield by only investing in Bitcoin.

Bitcoin price $99k level

Usually, it is a basic investment strategy for any individual/company in any type of volatile market investment to not invest at high prices, but significant investment in Bitcoin at a very high price shows the level of FOMO (fear of missing out on opportunity) among the top companies in the US.

Today, Bitcoin was trading at $99,543 & the current trade price of Bitcoin is $98,788, which is 8% higher than in the last 7 periods.

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