To back up its strategy, MicroStrategy also launched a $700 million debt offering, set to mature in 2028. This lets lenders earn interest while benefiting from the company’s exposure to Bitcoin’s market performance.
Interestingly, Fred Thiel, CEO of Marathon Digital (NASDAQ:MARA) Holdings, responded to this latest development, noting that MicroStrategy’s massive acquisition reduces the available Bitcoin for others to acquire. Marathon, which itself recently bought 5,000 more Bitcoin, now holds 26,200 BTC, worth around $1.5 billion.
This places the company as the second-largest public holder of BTC, trailing closely behind MicroStrategy.
As Marathon keeps building up its Bitcoin stash, it now owns about 0.12% of the total Bitcoin supply. This race between MicroStrategy and Marathon to get their hands on Bitcoin shows a larger trend in the business world, where companies are actively trying to get their share of the cryptocurrency.
Over the past year, public companies have increased their Bitcoin holdings from 272,770 BTC to 333,329 BTC, showing growing interest in the digital asset. Meanwhile, ETFs and funds have also increased their Bitcoin holdings, with total reserves jumping from 771,000 BTC to over one million BTC in the same period.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
