Stay up to date with the CriptoTendencia WhatsApp channel: Instant news about Bitcoin, Altcoins, DeFi, NFT, Blockchain and Metaverse. Subscribe!
Bitcoin Mining company Marathon has successfully completed a financing round in which it raised $850 million, of which it will allocate a significant portion to acquire more BTC. With this decision, Marathon reinforces its Bitcoin accumulation strategy as a key pillar to strengthen its long-term financial balance.
In recent weeks, a growing number of companies have adopted similar strategies, acquiring Bitcoin for their corporate reserves. At the same time, veteran companies in this practice, such as MicroStrategy, continue to expand their holdings. This wave of institutional buying has generated upward pressure on the price of BTC, even as the Cryptocurrency trades near all-time highs.
Analysts suggest that this confidence in Bitcoin’s appreciation potential, both in the short and long term, is a reflection of the optimistic sentiment around the asset. Some even project that, driven by increased institutional buying, the price of BTC could reach $120,000 in a relatively short time.
In a context of positive expectations, Marathon continues to consolidate its position as a leader in the mining sector, just as a significant political event approaches: on January 20, Donald Trump will once again assume the presidency of the United States. It is speculated that the president could make important announcements related to the crypto market.
MARA shares react positively to the announcement of the successful raising of $850 million. Source: Yahoo Finance
Marathon: a firm bet on Bitcoin backed by debt
Marathon reported that the $850 million raised comes from an issuance of 0% interest rate convertible notes, a strategy frequently used by MicroStrategy to finance its massive BTC purchases. This type of issue is just one of the various tools that listed companies use to raise capital.
The note offering was announced in mid-November, and Marathon managed to reach its financing goal in record time. Following the news, the company’s shares, which trade under the ticker MARA, experienced a rise of +3.7% on Thursday, reaching a price of $26.75 per share, according to data from Yahoo Finance.
Marathon’s strategic approach to Bitcoin has significantly raised its profile in financial projection and assessment tools.
Some analysts even consider Marathon stock to have greater upside potential compared to MicroStrategy. This is because Marathon is in an early recovery phase after the difficulties generated by the April halving, while MicroStrategy has already experienced considerable growth in the last two years.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
