Langgam Pos - Marathon Digital Holdings, the world’s largest Bitcoin miner, has significantly expanded its Bitcoin portfolio, acquiring an additional 2,282 BTC valued at over USD 124 million (approximately IDR 1.9 trillion) based on current market valuations.
According to Cointelegraph, as of August 8, 2024, Marathon Digital now holds a total of 20,818 BTC, worth more than USD 1.14 billion (about IDR 18.3 trillion), as announced on August 6, 2024.
The move underscores Marathon’s commitment to a long-term holding strategy, a stance that can influence Bitcoin’s market price. Large entities like Marathon, which adopt long-term holding strategies, are often seen as bullish signals for the future potential of the cryptocurrency.
Earlier in July 2024, Marathon acquired Bitcoin worth USD 100 million (IDR 1.6 trillion) to further integrate BTC into its strategic cash reserve. The company plans to execute a “full HODL,” a term in the crypto world meaning to hold onto assets firmly.
Fred Thiel, CEO and Chairman of Marathon Digital, shared in a post on social media platform X, “Today, Marathon proudly announces that to reinforce our strategy of holding Bitcoin as a strategic treasury asset, we have purchased USD 100 million in BTC over the past month and will now fully commit to HODL.”
Marathon’s strategy is seen as a positive development, especially given that the largest Bitcoin miner is persisting with its investments despite a 50% block reward cut from the Bitcoin halving event in 2024, which might compel other miners to liquidate their BTC holdings.
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