$109,376.00
0.04%$2,770.11
2.88%$2.32
1.69%$668.08
1.25%$164.55
4.13%$0.999762
-0.00%$0.200478
4.99%$0.29095
0.79%$0.717637
4.00%$2,768.88
2.85%$109,490.00
0.20%$41.59
1.74%$3,338.42
3.19%$3.47
2.28%$15.30
4.94%$22.06
1.47%$0.282437
3.34%$442.83
4.37%$9.03
2.30%$3.24
-1.72%$0.00001324
1.92%$0.180105
1.69%$0.999575
-0.01%$2,963.55
3.01%$2,769.74
2.86%$91.38
1.73%$4.26
3.10%$336.29
1.54%$0.999754
-0.03%$1.001
-0.04%$4.89
2.25%$0.00001274
-1.04%$8.28
13.33%$109,403.00
0.09%$0.637822
-0.08%$307.65
1.72%$31.32
-0.65%$418.48
-3.10%$1.18
-0.01%$6.22
4.89%$53.16
0.15%$2.61
3.24%$5.05
2.34%$0.100484
0.55%$1.00
0.00%$0.892426
2.01%$198.64
3.98%$18.28
2.73%$1.055
0.02%$31.42
0.79%$0.08773
-2.27%$0.673039
1.99%$18.48
1.18%$0.02558112
2.23%$1.001
0.01%$10.86
1.00%$0.353018
3.16%$0.793011
0.24%$3.99
-0.26%$4.53
2.36%$0.220454
1.34%$0.400876
8.49%$109,149.00
0.15%$4.45
0.53%$0.088894
7.21%$1.15
0.61%$2.70
3.66%$0.205398
3.06%$120.17
-1.77%$2,768.97
2.95%$4.60
1.72%$0.998516
0.02%$0.999934
-0.02%$1.001
0.05%$2.16
1.71%$173.54
3.88%$1.54
11.00%$0.484151
2.14%$11.41
0.79%$2.08
4.55%$0.00001748
1.11%$1.34
5.27%$13.40
-2.52%$3,151.76
2.98%$2,898.87
2.99%$1.26
1.73%$0.0185347
0.30%$0.390976
0.29%$0.707839
8.95%$4.06
-1.16%$0.067751
6.58%$0.203229
2.93%$0.704486
1.65%$2,953.60
2.94%$0.999815
-0.04%$1.006
-4.10%$109,323.00
0.42%$0.999815
0.02%$0.636372
8.26%$0.999311
-0.02%$2,901.68
2.86%$0.525481
-0.41%$0.165229
18.10%$0.702348
1.43%$0.099624
2.25%$2,915.09
3.19%$0.0000936
3.81%$109,276.00
-0.02%$667.77
1.16%$0.959967
10.15%$110,765.00
-0.81%$183.53
4.22%$3,331.11
-0.12%$2.55
2.73%$3,349.19
-0.01%$0.807349
1.35%$213.49
3.98%$49.24
-3.38%$23.84
7.72%$0.01742552
2.23%$2.25
18.17%$0.194225
2.14%$0.127292
1.98%$0.01510381
1.00%$0.295957
1.68%$0.0115105
0.31%$4.45
3.11%$0.529205
0.16%$1.11
0.01%$2.44
2.68%$0.00000071
1.07%$111.38
0.01%$33.97
0.15%$0.99954
-0.02%$0.623235
3.27%$0.649915
0.26%$2.01
-0.07%$0.389853
1.96%$0.997397
-0.01%$2,768.66
2.80%$108,884.00
0.49%$1.72
0.10%$41.85
2.41%$0.225606
-1.49%$2,940.26
2.73%$1.096
0.07%$2,770.11
2.88%$2,955.88
2.95%$0.719327
-0.83%$0.999893
0.01%$1.99
-0.83%$0.05679
-1.92%$0.295624
2.21%$60.10
7.23%$2,991.70
2.84%$0.531981
8.58%$0.497607
15.02%$2.92
-2.30%$109,269.00
0.14%$9.23
-9.83%$109,280.00
0.32%$0.200179
5.01%$1.28
0.91%$2,769.69
2.85%$0.01505894
-1.43%$0.993842
-0.53%$1.60
4.67%$0.586275
7.05%$0.141924
1.28%$0.43709
-6.52%$0.399594
-4.87%$0.00467416
-0.85%$7.13
3.49%$0.589347
4.50%$0.636891
8.61%$0.486408
-12.38%$41.85
2.37%$0.00002263
1.13%$15.79
1.16%$2,767.90
3.10%$6.30
1.37%$1.57
3.12%$0.04857476
-1.75%$2.72
6.18%$107,116.00
1.41%$1.33
2.32%$0.06137
-1.15%$0.999711
-0.01%$1.00
-0.03%$0.170956
6.18%$0.00000043
1.26%$0.083751
-1.45%$0.00000108
-1.06%$0.0045432
7.28%$1.72
-1.09%$2,942.30
3.09%$0.00716744
-1.80%$1.092
-0.61%$1.002
0.30%$36.91
0.96%$0.157158
-1.73%$0.999865
0.02%$0.03994265
1.60%$0.392921
-1.03%$0.01986389
1.56%$3,051.77
2.90%$0.576511
1.17%$0.999887
-0.18%$1.38
0.14%$3,022.43
2.84%$2,769.42
2.84%$0.358076
-1.16%$0.077024
1.44%$0.00670541
0.09%$0.03535409
3.49%$109,307.00
0.03%$0.826671
1.25%$178.76
4.01%$109,056.00
0.05%$0.00403549
1.13%$0.00006182
0.89%$127.50
1.60%$22.09
1.90%$2,767.89
2.96%$0.220572
1.47%$7.94
-1.25%$20.02
0.56%$0.718075
0.17%$0.02081686
9.58%$0.999308
-0.01%$0.68821
1.42%$0.998039
-0.25%$0.22234
3.52%$0.00379101
-8.82%$0.999771
-0.02%$0.00437536
-1.01%$0.00336686
-0.17%$2.46
-0.47%$0.495572
1.29%$0.300486
-2.14%$26.67
1.62%$0.11774
-4.23%$0.00000141
-4.12%$108,968.00
-0.22%$17.20
2.82%$0.283932
-2.39%$1.009
0.11%$0.134853
6.63%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.
While dozens of states race to establish Bitcoin reserves, Connecticut just slammed the door shut. The state's General Assembly unanimously passed House Bill 7082 on Tuesday—now Public Act No. 25-66—delivering the nation's most sweeping ban on government crypto investments. The comprehensive legislation explicitly bars government entities from "establishing a reserve of virtual currency" and prevents them from accepting crypto as payment for any amounts due to the state or its political subdivis...
The investment firm of famed tech investor Cathie Wood remains bullish on Bitcoin as its price has climbed back near its recently established all-time high of $111,814. Aggregate unrealized profit levels, Bitcoin ETF flows, and key support levels converging are among "bullish" indicators for the top crypto asset, according to ARK Invest’s monthly Bitcoin report for May. “Bitcoin has not hit irrational exuberance,” reads one of the report’s key takeaways. One notable sign that Bitcoin hype has...
Bitcoin Core developers have confirmed plans to remove long-standing data storage restrictions in the upcoming version 30 release, scheduled for October 30. The change essentially eliminates Bitcoin's current 80-byte limit on OP_RETURN outputs, which are special transaction fields that allow users to embed arbitrary data on the blockchain. Under the new rule, transactions can include multiple OP_RETURN outputs, each potentially containing up to 4MB of data. “Bitcoin Core is just one protocol imp...
