Marathon, a big player in the Bitcoin mining game, is getting ready to spend a whole lot of money on buying more Bitcoin. They’re planning to raise $250 million by selling bonds, which they’ll use to add to their already impressive Bitcoin stash.
Marathon is the second-largest publicly traded company holding Bitcoin, with 20,000 BTC worth over $1.2 billion. They’re clearly following the lead of MicroStrategy, another big company that’s been buying up Bitcoin for years.
MicroStrategy, owned by Michael Saylor, is the king of Bitcoin hoarding, with a whopping 226,500 BTC worth over $13.7 billion. Marathon’s CEO, Fred Thiel, even said on social media that they’re taking a page out of Saylor’s playbook.
Some experts think this could be the start of a race among public companies to buy up as much Bitcoin as possible. Samson Mow, a Bitcoin veteran, thinks it’s only a matter of time before everyone catches on and the price of Bitcoin goes through the roof.
Bitcoin is currently trading at $60,696, up over 2% for the day. It’s an exciting time to be in the Bitcoin world, with big players making big moves.
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