Michael Saylor expects Marathon to follow MicroStrategy into the Nasdaq 100

The largest US miner Marathon has been increasing its bitcoin holdings in recent months

16.12.2024 - 11:40

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What’s new? On December 13, analytics software company MicroStrategy, which is the largest bitcoin holder among publicly traded companies, was included in the Nasdaq 100 index from the leading US stock exchange. MSTR shares added 5,7% in the premarket to reach $431,7. The index includes the 100 largest companies by capitalization that trade on Nasdaq.

Press release

What else is known? The CEO of Marathon Digital (MARA), the largest US-based manning company with a capitalization of $7,71 billion, commented on the news. Fred Thiel congratulated MicroStrategy, noting that it became the first bitcoin-strategy company in the Nasdaq 100 index.

MicroStrategy founder and CEO Mile Saylor thanked Fred Thiel and stated that he expects to see Marathon next on the list. Thiel responded by assuring that his company is working hard on it.

Source: X.com

Last week, Marathon held a securities offering and bought 11 774 BTC worth $1,1 billion at $96 000 per coin. In total, the company holds 40, 35 coins worth more than $4,23 billion based on the current exchange rate.

Source: X.com

MARA shares are trading at $22,73 on the Nasdaq, having added 3,7% on the premarket. That said, they have lost 6,5% for the month, and the stock is down by 15% since the beginning of the year.

Last month, Marathon released a policy statement calling on incoming US President Donald Trump to rapidly ramp up mining capacity and BTC holdings to ensure national security.

In December, the National Center for Public Policy Research (NCPPR) in Washington, D.C. called on Amazon Corporation to create a bitcoin reserve to preserve shareholder value in the face of high inflation.

Earlier, Michael Saylor made a presentation to Microsoft’s board of directors on the benefits of creating a bitcoin reserve, but his proposal was rejected.

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