Financial Insights That Matter
MARA Holdings Inc. MARA CEO Fred Thiel reiterated the company’s commitment to its Bitcoin holding strategy on Thursday, emphasizing the potential benefits for its stockholders.
What Happened: During the first quarter earnings call, Thiel said MARA held a “distinguishing” position in the market, allowing shareholders to gain from its Bitcoin HODL play as well as pure-play mining activities.
“What MARA is doing is a twin turbocharge strategy,” Thiel said. “And then when you drive a twin turbo engine, you see the benefit of both the sides.”
Thiel also noted that the decision to pivot to a “full HODL” strategy was based on careful market conditions and macroeconomic factors analysis, which he believed would yield long-term benefits for MARA stockholders.
“So I think we’re going to continue to see things move up in Bitcoin longer term, which is why we are still in very much a full HODL position,” he added.
See Also: Tether Enables Binance To Convert 3B USDT From Tron To Ethereum
Why It Matters: MARA adopted a buy-and-hold strategy in July of 2024, retaining all Bitcoin it mines and periodically making strategic open market purchases. In March, the firm revealed plans to raise up to $2 billion through a stock offering to expand its Bitcoin treasury.
As of this writing, MARA was the second-largest corporate holder of Bitcoin, amassing a stockpile of 48,237 BTC, worth $4.97 billion, according to Bitcointreasuries.net. Michael Saylor’s Strategy Inc. BTC/USD remains the market leader, having over $57 billion in Bitcoin.
MARA reported worse-than-expected first-quarter financials after market close, with revenue and earnings missing analyst estimates.
Price Action: At the time of writing, Bitcoin was exchanging hands at $103,197.90, up 4.22% in the last 24 hours, according to data from Benzinga Pro.
Shares of MARA dipped 1.82% in after-hours trading after closing 7.20% higher during Thursday’s regular session.
MSTR reported low momentum and growth scores as of this writing. To find out how Strategy and other Bitcoin-holding firms stack up on these parameters, visit Benzinga Edge Stock Rankings.
Photo Courtesy: OlegD On Shutterstock.com
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