$118,116.00
1.26%$3,744.53
2.50%$3.18
3.32%$783.54
0.97%$186.09
2.06%$0.999811
-0.00%$0.237895
4.69%$3,742.04
2.57%$0.318671
0.81%$0.827579
4.44%$118,135.00
1.35%$4,527.83
2.60%$43.84
2.31%$4.22
10.94%$0.439744
5.54%$18.48
4.30%$0.284371
13.13%$4,026.00
2.61%$560.83
4.17%$25.38
8.48%$4,014.14
2.50%$114.75
3.10%$0.00001409
3.50%$3,747.95
2.57%$8.98
0.02%$3.31
5.54%$0.999776
-0.00%$1.001
0.04%$1.00
0.00%$44.14
1.20%$4.17
4.54%$10.54
4.26%$118,140.00
1.29%$321.51
-0.77%$0.00001264
4.30%$4.55
0.83%$0.141354
10.20%$296.51
2.41%$1.19
0.04%$429.80
3.85%$0.592022
10.04%$2.92
6.88%$22.90
3.56%$0.441469
0.39%$1.052
3.98%$5.74
5.36%$4.84
3.98%$226.84
2.16%$48.22
0.84%$0.796564
5.51%$0.00003429
3.21%$0.099889
2.67%$0.04188536
12.30%$1.00
0.00%$0.277942
7.13%$0.454966
6.15%$3,743.20
2.37%$0.0260814
4.34%$1.001
0.03%$4.26
5.76%$4.79
4.61%$0.238788
4.79%$17.73
1.15%$1.17
4.80%$10.23
3.88%$0.094757
5.38%$0.345975
8.06%$4.57
1.38%$0.739349
2.76%$198.17
2.07%$1.99
14.67%$2.69
4.33%$122.07
2.61%$4,270.78
2.60%$118,177.00
1.24%$0.557786
4.62%$0.02404102
8.48%$3,926.97
2.56%$1.061
0.02%$5.50
4.59%$5.09
1.03%$11.67
-2.91%$1.073
9.35%$0.089541
4.24%$0.999591
-0.02%$14.79
11.02%$1.96
6.10%$3,941.12
2.62%$4,006.06
2.49%$4,047.54
2.51%$1.001
0.03%$0.999035
0.10%$1.34
5.29%$1.31
-1.97%$0.815395
4.65%$0.729313
5.39%$0.00013016
4.98%$3,938.67
2.43%$1.00
0.01%$117,367.00
0.67%$209.37
2.02%$0.338091
3.80%$0.573535
5.20%$1.079
4.80%$0.105944
3.81%$783.46
0.95%$1.58
4.95%$0.00290202
17.93%$30.19
8.57%$0.999879
0.01%$1.09
2.10%$0.165267
2.93%$3,739.74
2.53%$2.78
4.20%$0.186425
-1.26%$0.90126
4.57%$3,354.10
0.14%$118,358.00
1.43%$244.03
2.09%$119,121.00
2.08%$1.11
0.03%$0.576431
2.11%$0.901187
5.43%$1.00
-0.01%$0.338823
-2.48%$0.01741432
5.15%$0.213243
6.10%$3,346.79
-0.01%$3.06
5.06%$0.01792121
5.13%$3,743.54
2.47%$4,011.22
2.62%$3,929.50
3.45%$9.68
6.24%$0.897158
3.47%$1.00
0.05%$0.311754
5.08%$0.131275
5.53%$4.44
-0.15%$2.00
3.85%$111.94
0.02%$0.49265
13.40%$1.09
0.41%$0.999852
0.10%$41.72
4.12%$0.00000068
2.53%$0.419383
4.81%$117,358.00
0.89%$0.54741
-0.68%$3,744.87
2.47%$2.00
6.33%$3.43
2.35%$0.321497
4.53%$0.00000156
10.30%$0.237594
4.33%$0.00871898
-0.29%$29.58
3.07%$3,983.87
2.53%$0.997606
-0.00%$0.999957
0.03%$0.01672658
10.41%$118,194.00
1.30%$0.338983
-2.64%$117,022.00
1.31%$0.056413
4.66%$0.554487
2.02%$3,747.95
2.60%$0.00596434
3.22%$1.00
0.02%$0.539868
-6.42%$4,129.04
2.53%$0.074248
0.20%$1.50
3.48%$0.00883832
5.99%$43.83
2.31%$1.22
8.80%$0.637646
-0.27%$7.77
4.52%$0.423706
6.74%$4,092.98
2.63%$0.998383
0.02%$0.197118
9.50%$1.079
13.22%$5.90
17.41%$0.133556
4.33%$0.633656
3.69%$6.71
4.50%$16.55
3.82%$49.51
4.99%$0.00000047
0.62%$1.16
0.04%$4,540.79
2.71%$0.00002269
3.12%$3,739.46
2.61%$0.00862533
10.00%$2.62
4.10%$0.401585
2.15%$1.37
4.06%$3,742.93
2.47%$7.49
1.66%$0.417086
-0.27%$10.76
0.00%$0.04289443
4.04%$0.05774
5.82%$0.00000099
18.52%$1.094
0.00%$13.88
2.49%$0.999811
-0.00%$0.992692
-0.67%$0.085292
4.97%$25.35
8.34%$30.82
8.29%$0.283449
3.99%$0.999887
-0.02%$0.188111
0.43%$1.00
-0.23%$43.64
2.46%$203.98
2.06%$0.574939
1.81%$0.0200471
5.07%$0.380804
17.82%$0.146433
4.18%$1.39
3.61%$0.929678
16.79%$0.568266
3.98%$141.23
-0.99%$0.378151
4.43%$0.818905
8.13%$0.03736337
1.14%$0.0344765
4.56%$22.28
0.62%$118,697.00
1.74%$0.00006367
3.03%$0.00513532
1.76%$0.0035253
-0.46%$118,060.00
1.30%$0.238451
4.73%$0.745626
1.93%$0.00393112
0.53%$0.806987
2.27%$1.36
2.66%$0.00392706
3.01%$0.999491
-0.03%$3,935.78
2.54%$0.00366819
6.58%$4,218.67
2.46%$0.087371
3.50%$1.003
0.18%Reading
The stock of crypto miningmining company Marathon Patent Group jumped 7.7% in pre-market hours today, soon after it announced its purchase of over $150 million worth of Bitcoin. It trades at $19.86 at press time.
The surge added to Marathon’s 2,800% stock rise over the past year—from nearly $1 to over $28 in the first week of January. That move itself was in tandem with Bitcoin’s own price jump from under $4,500 in May 2020 to over $41,000 in December last year.
Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon") today announced that it has purchased 4,812.66 BTC in an aggregate purchase price of $150 million via @NYDIG_BTC. Another public company adopts #Bitcoin as a treasury reserve asset. https://t.co/acwghygNxC
— Michael Saylor (@michael_saylor) January 25, 2021
Marathon’s stock jump is similar to how traditional market traders reacted to technology firms MicroStrategy and Square announcing their own Bitcoin purchases last year—the stocks of both companies jumped by several percent immediately after they made their purchases public.
That happens as most accredited and regulated market participants cannot hold Bitcoin directly, and instead have to resort to either Bitcoin futures—a speculative bet on the asset’s price movements—or publicly traded companies like Marathon which conduct business in the crypto space to profit from Bitcoin's upside.
As financial constructs go, Bitcoin is relatively new. It was invented less than 12 years ago and is neither a share nor a stock, a startup nor an evolved Internet. So any prior comparisons to the peer-to-peer cryptocurrency are meaningless. This combines with Bitcoin’s lack of central coordination and its volatility to give an impression of an asset class that’s inherently risky, unproven, and fragile—despite it having a total value, or market cap, of some $200 billion. Bitcoin’s belief proble...
Meanwhile, Marathon CEO Merrick Okamoto said the mammoth Bitcoin purchase was to hedge against a depreciating US dollar. “We believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars,” he said in a statement.
Overall, the firm picked up 4,812.66 Bitcoin. The mining player is also on track to receive over 103,060 mining machines—advanced computing devices that perform thousands of calculations each second to maintain the Bitcoin network—by 2022, which will further be used to expand its business.
Meanwhile, Bitcoin itself jumped over 7% today, trading at over $35,000 at press time after a brief price dip last week.
Russian individuals and groups are using Kyrgyzstan’s cryptocurrency ecosystem to evade international sanctions, according to research from UK-based blockchain intelligence firm TRM Labs. Publishing its findings in a blog, TRM Labs reported that Kyrgyzstan appears to be serving as a front for cryptocurrency platforms and services linked to Russian exchange Garantex, which was shuttered in March after an international operation. New TRM analysis shows how Russia is turning to Central Asian natio...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. ETHA hits warp speed BlackRock’s iShares Ethereum Trust, which trades under the ETHA ticker, just became the third-fastest ETF to reach $10 billion. It reached the milestone in 251 days. And was beat by BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund—which did it in 34 days and 53 days, respectively. There was much hand wringing and head scratching on Wall Street when the...
Sen. Elizabeth Warren (D-MA) has slammed the recently passed GENIUS Act, saying the American people will “pay the price” for the groundbreaking crypto legislation. The act, which was signed into law by President Donald Trump earlier this month, provides legal clarity for stablecoins. It establishes a framework for issuing and trading stablecoins, which has prompted increased interest in them from banks and major retailers. In an interview with Vanity Fair, Warren acknowledged the U.S. needs “str...
