Marathon's Full Hodl Strategy
On July 25, Marathon Digital's CEO Fred Thiel announced they will use a "full hodl" strategy. The term "hodl," derived from a misspelling of "hold," is crypto slang for holding assets regardless of market volatility.
Impact of Miner Behavior on Bitcoin Price
Major Bitcoin miners like Marathon can impact the market by purchasing and holding Bitcoin. This will be especially important during the 2024 halving. The halving, which will reduce block rewards by half, may pressure miners to sell more BTC to cover operational costs. Marathon's choice to keep their recently acquired Bitcoin instead of selling it could help stabilize the market.
Marathon's Bitcoin Holdings
Despite a month-long decline in Bitcoin prices, Marathon did not sell any of its Bitcoin holdings in June. The company said it might sell BTC in the future to help with operations, get funding, and meet corporate needs. Marathon is now focusing on holding onto its Bitcoin assets more aggressively with the full hodl strategy.
As of the recent acquisition, Marathon's total Bitcoin holdings have surpassed 20,000 BTC, valued at over $1.28 billion. This substantial investment shows that the company strongly believes in Bitcoin's potential as a secure long-term investment.
Marathon Digital keeps investing in Bitcoin and holding these assets. This follows a trend among institutional players. They view Bitcoin as a valuable reserve asset.
As we approach the 2024 halving, many will watch prominent miners like Marathon to see their impact on Bitcoin's price. Marathon's actions could influence the price of Bitcoin.
People are interested in how significant miners will affect Bitcoin's value. The 2024 halving is causing people to closely monitor prominent miners like Marathon.
