Marathon Digital, the world’s largest Bitcoin mining firm, announced on Thursday that it has purchased $100 million worth of BTC for its balance sheet. This acquisition brings the mining giant’s total Bitcoin holdings to 20,000 BTC, valued at approximately $1.28 billion at current market prices.

In a strategic shift, Marathon Digital has declared that it will adopt a full HODL strategy, meaning the company plans to retain all Bitcoin mined and periodically make strategic purchases on the open market. This approach indicates that Marathon does not intend to sell any of its Bitcoin holdings, no matter how small the unit.

“Effective immediately, the company will adopt a full HODL strategy again,” Marathon stated. “The company plans to retain all Bitcoin mined and periodically make strategic purchases on the open market.”

Marathon’s decision aligns with the actions of several other public companies that have adopted Bitcoin as a primary treasury reserve asset this year, including Semler Scientific, Japan’s MetaPlanet, and Canada’s DeFi Technologies.

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Former U.S. Marine, prominent attorney John E. Deaton running for U.S. Senate, the state of Massachusetts. Deaton, who has about 80% of his wealth in Bitcoin (BTC), is seeking to oust Senator Elizabeth Warren, one of the more vocal critics of the cryptocurrency industry, after her pledge to organize an anti-crypto army has inspired Deaton’s run to become a proponent of digital assets.

Apart from BTC, Deaton has invested in large cap cryptos such as Ethereum (ETH), Solana (SOL), and Ripple (XRP). As a matter of fact, the lawyer had been an active player in the world of digital money since he represented 76,000 XRP holders in court in a high-profile lawsuit against the U.S. Securities and Exchange Commission. This earned him the nickname of a “crypto-lawyer.”

Deaton’s legal career was focused almost entirely on asbestos litigation, making his move into crypto advocacy a dramatic pivot. If successful, his run for the Senate could be yet another indication of how the power of cryptocurrency is affecting politics and potentially changing the digital currency legislative game.

As of July 25, 2024, the U.S. Bitcoin ETFs landscape indicates an active net flow that shows investor community sentiment and market movement. The flagship IBIT by BlackRock documents the largest net inflow of 1,000 BTC in its total holding of 337,036 BTC. This substantial inflow points to strong investor confidence in established financial structures’ exposure to Bitcoin. On the other hand, Grayscale’s GBTC witnessed a net outflow of 428 BTC, indicative of either an investor preference shift or strategic rebalancing. The total holdings number for Grayscale’s GBTC at the moment stands at 271,623 BTC. Other ETFs, such as Fidelity’s FBTC and ARK Invest’s ARKB, also received positive net inflows, adding 22 BTC and 50 BTC, respectively, to indicate continued interest in diversified Bitcoin exposure. Invesco Galaxy’s BTCO and Franklin Templeton’s EZBC reported large net inflows of 201 BTC and 116 BTC, respectively, indicating that the appetite for Bitcoin investment vehicles is on the rise. The sum total of Bitcoin holdings from all listed ETFs totaled 912,357 BTC, with a net inflow of 961 BTC valued at around $62.3 million. This snapshot of ETF activity attests to how trends of investments in the cryptocurrency space dynamically change and underlines how different funds change their positions according to market conditions.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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TOKYO, JAPAN – July 26, 2024 – In a significant move to broaden its international reach, Bitcoin Magazine, in collaboration with Metaplanet (TYO), announced the opening of its new office in Tokyo, Japan, on July 26, 2024, at The Bitcoin Conference in Nashville, TN. This initiative underscores a joint commitment to providing localized, high-quality content tailored to the unique needs and interests of the Japanese Bitcoin community.

As one of the first countries to recognize Bitcoin as a legal form of payment, Japan has fostered a supportive ecosystem for the innovation and use of Bitcoin as a currency. Tokyo, in particular, boasts a dynamic financial sector, a high concentration of…

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Investment giant VanEck forecasts a staggering rise in bitcoin’s value to $2.9 million by 2050, positioning it as a pivotal reserve currency in the International Monetary System. Their optimistic base case scenario sees bitcoin facilitating 10% of international and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. This evolution is backed by an anticipated shift in trust from traditional reserve currencies, amidst increasing deficit spending and geopolitical tensions.

VanEck’s report also highlights the potential market capitalization of $61 trillion for bitcoin, with significant contributions from Layer-2 solutions like the Lightning Network valued at $7.6 trillion. These technological advancements are expected to enhance bitcoin’s scalability, making it suitable for widespread international transactions.

The analysis suggests that growing interest in bitcoin, spurred by its immutable monetary policy and limited supply, will lead to significant holdings by central banks and investors, driven by the Gresham’s Law effect. This increase in demand and reduction in supply is projected to further propel bitcoin’s price upward, securing its place as digital gold.

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In a fascinating comparison of market value, Bitcoin stands tall against one major tech giant, Nvidia. With the price of Bitcoin standing at $64,204, its market capitalization reaches an inspiring $1.2 trillion. This stands in contrast with a major player in the development and application of GPUs and AI technologies, such as Nvidia, which has a market cap of $2.8 trillion at a share price of $114.25.

Interesting, if Bitcoin’s market cap was equal to Nvidia’s and factored to the price of one Bitcoin, it would hold a value of $142,500, hence showing a big disproportion in value of 2.22 times higher than the current Bitcoin price.

This comparison is illustrative not only of the tremendous scale of Nvidia’s market presence but also of the high value and impact that Bitcoin has attained in the financial world, even though it is a completely different type of asset. The contrast between a decentralized digital currency and the traditional technology company underlines how wide the spectrum of investments is today and how big their possible valuations may be.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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The biggest names in Bitcoin are converging in Nashville this week for the Bitcoin 2024 conference, the largest Bitcoin event in the world. Speakers include Donald Trump, Robert F. Kennedy Jr., Cathie Wood, Michael Saylor, and more.

Kicking off today is Bitcoin 2024’s Industry Day, which will feature presentations and discussions between top business leaders in the Bitcoin space.

Industry Day will focus on building Bitcoin-native financial products, Bitcoin’s role in traditional banking, corporations putting Bitcoin on their balance sheets and more. Sessions on Bitcoin scaling and layer 2 solutions will also be held.

Notable sessions include Dhruv Bansal of Unchained Capital and Allen…

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MARA (NASDAQ: MARA), a leader in leveraging digital asset compute for energy transformation, has purchased $100 million worth of Bitcoin, bringing its total holdings to over 20,000 BTC, according to a press release sent to Bitcoin Magazine.

The company also announced a new treasury policy to adopt a full HODL approach, retaining all Bitcoin mined and making periodic strategic purchases.

“Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin,” stated Fred Thiel, MARA’s chairman and CEO. “We believe bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to…

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