Marathon mining company earned $ 16 million from buying bitcoin in 4 days

The company invested $150 million in the first cryptocurrency, explaining that it is safer to keep cash reserves in it than indollar.

Mining company Marathon invested inbitcoin $ 150 million - she bought 4813 coins. Its CEO in an interview with The Block explained that it is more reasonable to keep some of the reserves in cryptocurrency, and not in dollars. Earlier, the same argument was made by the CEO of MicroStrategy, which has invested more than $ 1 billion in its main digital asset since August.

“Like the leadership of MicroStrategy, we believe thatfrom a long-term investment perspective, the best strategy is to keep some of our reserves in bitcoin, not dollars, ”said Merrick Okamoto, CEO of Marathon.

The Bitcoin purchase transaction took place on January 21st.At that time, the cryptocurrency was trading at $ 31 thousand.Over the past four days, the asset has risen in price by 11% and today, on January 25, at 18:00 Moscow time, it costs $ 34.5 thousand.Marathon's paper profit has already amounted to $ 16.5 million.

Helped to carry out the operation of the mining companyNew York-based investment fund NYDIG. He previously provided a similar service to the insurance firm MassMutual. She bought bitcoin in December at $ 18.3 thousand per coin, investing $ 235 million in it.Since then, the cryptocurrency rate has grown by 88%.

</p></p>