MicroStrategy has made another major move by purchasing $1.1 billion worth of Bitcoin, bringing its total holdings to an impressive $14.3 billion, which is about 1.17% of all Bitcoin in circulation.
MicroStrategy's New Purchase
MicroStrategy purchased $1.1 billion worth of Bitcoin, increasing its total holdings to $14.3 billion. This acquisition also includes the launch of a $700 million debt offering, set to mature in 2028.
Marathon Digital Holdings' Response
Fred Thiel, CEO of Marathon Digital Holdings, commented on this event, noting that MicroStrategy's massive Bitcoin purchase reduces the available Bitcoin for others to acquire. "Well, that’s another 12,500 BTC less for the rest of us...", Thiel tweeted. Marathon Digital Holdings recently also increased its holdings by 5,000 BTC, bringing their total to 26,200 BTC, worth around $1.5 billion.
Bitcoin Market Trends
The race between MicroStrategy and Marathon Digital Holdings to accumulate Bitcoin reflects a wider trend in the business world, where companies are actively increasing their cryptocurrency holdings. Over the past year, public companies have increased their Bitcoin holdings from 272,770 BTC to 333,329 BTC. Meanwhile, Bitcoin reserves in ETFs and funds have increased from 771,000 BTC to over one million BTC.
Large investments by companies like MicroStrategy and Marathon Digital Holdings create a shortage of Bitcoin in the market and confirm the growing interest in this digital asset.
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