$107,340.00
-2.18%$2,631.74
-1.60%$2.25
-3.54%$687.13
-0.32%$170.41
-4.40%$0.999797
0.00%$0.219036
-3.88%$0.738527
-3.47%$0.274897
-0.74%$2,630.30
-1.69%$107,089.00
-2.39%$3.56
-4.16%$33.29
-9.39%$3,167.76
-1.82%$15.43
-3.46%$23.06
-1.78%$0.280706
-3.02%$3.42
13.53%$9.08
1.41%$0.00001407
-3.20%$408.36
-2.37%$0.183051
-3.94%$94.32
-2.66%$2,632.14
-1.51%$0.999811
-0.01%$4.46
-2.39%$352.14
-7.70%$2,807.49
-1.83%$5.22
-2.57%$1.00
-0.06%$0.00001363
-2.94%$0.724242
-3.18%$1.001
0.06%$107,241.00
-2.11%$31.48
-1.23%$6.64
2.33%$261.67
-4.37%$431.74
-5.41%$2.77
-3.10%$5.28
-2.93%$52.29
0.18%$205.38
-4.42%$38.81
0.06%$1.00
0.00%$0.91696
-4.54%$0.096797
-1.73%$5.24
-2.50%$1.18
0.05%$18.10
-3.83%$0.099918
-6.79%$20.35
-2.05%$12.24
-4.60%$0.726479
-0.77%$0.883489
-1.77%$0.02667881
-4.68%$1.053
0.07%$4.40
-7.15%$0.377686
-5.86%$1.00
-0.11%$4.71
-1.87%$1.32
-6.78%$0.224303
-3.48%$107,048.00
-2.21%$0.394663
-3.30%$4.43
0.07%$2.79
-4.08%$0.214176
-4.68%$0.59564
-4.77%$114.54
0.75%$2.55
-4.38%$1.00
0.21%$4.59
-1.91%$2,630.84
-1.66%$0.00001967
-5.29%$2.32
-6.46%$179.56
-4.05%$14.65
-2.38%$11.35
0.03%$0.434193
-3.84%$2,750.55
-1.80%$0.84545
-5.77%$0.75051
-3.44%$1.26
-8.87%$2,987.10
-1.88%$1.00
0.10%$1.24
-2.43%$0.01835548
-1.86%$4.24
-2.84%$0.218161
-4.32%$0.617081
-5.01%$0.746319
-2.66%$1.11
-2.60%$0.063584
-5.64%$0.107833
-4.80%$106,997.00
-2.54%$1.00
0.05%$0.742043
-5.23%$0.00009989
-2.97%$2,804.03
-1.60%$1,669.57
-1.28%$1.015
10.21%$221.03
-4.23%$687.35
-0.23%$107,322.00
-2.25%$3.07
-6.10%$2,763.75
-1.68%$189.64
-4.28%$0.999633
0.04%$2.67
-4.03%$1.00
-0.02%$0.852214
-5.68%$0.01885751
-3.30%$51.79
-6.83%$107,686.00
-1.93%$0.01696264
-4.89%$2,759.14
-2.13%$0.811497
-2.55%$3,290.47
-0.35%$0.888076
-4.16%$3,305.67
-0.34%$0.203748
-3.74%$0.133046
-3.85%$0.01213682
-8.00%$22.80
-2.03%$0.299863
-3.87%$4.46
-3.12%$0.00000072
-0.92%$12.38
-0.22%$0.537378
-4.30%$35.46
-4.10%$106,434.00
-2.37%$0.999828
-0.02%$3.65
-9.83%$1.88
-2.52%$0.112358
-2.17%$111.22
0.01%$0.620162
-0.95%$0.065312
-6.19%$0.997643
0.02%$2.02
-0.51%$0.393806
-2.42%$1.87
-5.80%$0.01816996
-3.99%$2.17
-5.91%$2,631.68
-1.59%$1.088
0.31%$2,632.34
-1.36%$0.302023
-4.54%$0.570922
-4.19%$0.218916
-3.80%$0.697
-0.91%$2,725.95
-2.05%$2,805.51
-1.40%$107,163.00
-2.00%$2.18
-6.98%$0.00514349
-4.11%$0.195809
-6.14%$2,632.34
-1.57%$17.81
-3.51%$0.423407
-4.01%$0.99873
-0.01%$107,200.00
-2.44%$1.10
0.12%$0.156043
-3.54%$0.614894
-3.66%$7.29
-4.69%$0.0082005
-6.78%$0.56991
-6.28%$0.999805
0.01%$0.42175
-3.03%$6.46
-3.53%$0.098861
-5.75%$0.423368
2.38%$0.04998773
-7.04%$1.49
-4.29%$2.79
-3.96%$0.683033
-5.16%$0.062167
-0.24%$0.086674
-3.55%$1.32
-8.00%$0.00000111
-9.73%$33.47
-8.81%$104,703.00
-3.09%$0.00000043
-0.74%$0.00002149
-3.69%$0.170306
-7.42%$0.43059
-10.25%$0.163883
-6.04%$0.04297603
-3.27%$1.088
-0.03%$1.004
1.52%$36.85
-0.56%$2,625.98
-1.58%$1.44
-7.93%$0.00423726
-6.55%$0.00480166
17.05%$1.41
-6.67%$1.00
-0.03%$2,778.96
-5.38%$0.00737959
-6.02%$0.999532
-0.04%$0.999648
-0.18%$0.156472
-3.12%$41.81
-2.44%$0.00447643
-3.12%$0.01944845
-1.26%$0.384096
-2.47%$33.47
-8.77%$2,893.13
-1.62%$106,779.00
-3.00%$134.47
-3.17%$0.849914
0.03%$0.00507421
-5.44%$2,868.93
-1.62%$0.768807
-6.30%$0.03488117
-2.59%$107,138.00
-2.19%$0.224629
-3.37%$0.000062
-3.54%$2.78
-4.31%$0.0037319
-7.79%$2,629.93
-1.60%$0.567556
-5.42%$0.00000161
1.43%$19.77
0.19%$0.339264
-3.22%$0.320745
-7.06%$0.230435
-3.60%$2,629.93
-2.42%$0.287915
-11.47%$184.82
-4.21%$0.999578
0.02%$22.97
-2.06%$2,837.54
-1.69%$0.999951
0.12%$0.999745
-0.01%$0.671576
-3.80%$0.242443
-4.20%$18.05
-2.46%$0.746782
-7.90%$2.64
-4.10%$3.18
-5.46%$23.49
-2.98%$0.00279711
1.25%$0.999784
0.01%$0.00067484
-4.54%$190.50
-4.31%$3,301.23
-0.28%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.
The Bank of Korea is considering linking its deposit tokens to a public blockchain, a move that would position its state-backed digital currency alongside private-sector stablecoins operating on open networks. The tokens will be “a type of stablecoin issued within the digital currency system built and operated by the Bank of Korea,” the bank’s Deputy Governor Lee Jong-ryeol said in a statement Decrypt has confirmed with local sources. "We are considering a direction in which it will coexist with...
Professor Andrew Urquhart is Professor of Finance and Financial Technology and Head of the Department of Finance at Birmingham Business School (BBS). This is the sixth instalment of the Professor Coin column, in which I bring important insights from published academic literature on cryptocurrencies to the Decrypt readership. In this article, we’ll investigate cryptocurrency derivatives. Bitcoin has gone from being an obscure digital asset traded by blockchain enthusiasts to one of the most trade...
Bitcoin (BTC) may be gaining momentum globally, but in Australia, it’s also attracting political ire. On May 23, Senator Gerard Rennick dismissed Bitcoin as a “Ponzi scheme,” sparking immediate backlash from crypto industry groups and users alike. “Bitcoin will ultimately go to a $1 million dollars. Why? Because it’s a Ponzi scheme whereby BlackRock will pump more and more dollars into a supply-constrained product,” Rennick tweeted in response to a user who sarcastically asked for his “special c...
