{"id":352843,"date":"2024-07-26T20:37:39","date_gmt":"2024-07-26T15:07:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=352843"},"modified":"2024-07-26T20:37:39","modified_gmt":"2024-07-26T15:07:39","slug":"marathon-digitals-ceo-hints-at-potential-bitcoin-buys-through-convertible-notes-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/marathon-digitals-ceo-hints-at-potential-bitcoin-buys-through-convertible-notes-crypto-news\/","title":{"rendered":"Marathon Digital\u2019s CEO hints at potential Bitcoin buys through convertible notes – Crypto News"},"content":{"rendered":"
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Bitcoin<\/a> miner Marathon Digital<\/a> CEO Fred Thiel<\/a> suggested that the firm could raise capital through convertible bonds to purchase more of the flagship digital asset in the future.<\/p>\n

This follows the firm\u2019s recent purchase of $100 million<\/a> worth of Bitcoin, raising its total holdings to over 20,000 BTC.<\/p>\n

Future purchases<\/h2>\n

In a Telegram message to CryptoSlate<\/em>, Thiel said the publicly traded Bitcoin miner could buy more of the top asset from the open market when conditions are favorable for its shareholders.<\/p>\n

He stated:<\/p>\n

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\u201cWe will do it when we think conditions suggest it\u2019s the right thing to do from a shareholder perspective.\u201d<\/p>\n<\/blockquote>\n

This statement aligns with the firm\u2019s promise to make periodic strategic acquisitions of the top crypto and adopt a full HODL strategy. Following the miner\u2019s recent purchase, Thiel described the digital asset as \u201cthe world\u2019s best treasury reserve asset\u201d and urged \u201cgovernments and corporations to all hold bitcoin as a reserve asset.\u201d<\/p>\n

Meanwhile, Marathon\u2019s thirst for Bitcoin is unsurprising, considering the firm is the largest mining company<\/a> in the world. Additionally, this is not the first time the miner has purchased Bitcoin outside of its mining production, as it procured $150 million worth of Bitcoin in January 2021.<\/p>\n

Convertible notes<\/h2>\n

When questioned about how future purchases would be funded, Thiel suggested that the firm adopt the convertible notes strategy, pointing out that the firm was familiar with these processes.<\/p>\n

He stated:<\/p>\n

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\u201cIt all will come down to a cost of capital decision. We have done converts in the past (fall 2021) so we are familiar with using converts as a financing tool.\u201d<\/p>\n<\/blockquote>\n

Convertible debt allows investors to convert their debt into equity later, usually at a discount to the share price at conversion. This type of financing lets companies raise capital without immediately diluting shareholder value.<\/p>\n

MicroStrategy<\/a> has popularized this strategy with frequent Bitcoin purchases<\/a> over the past year. The firm holds over 200,000 BTC, making it the largest corporate Bitcoin holder.<\/p>\n

Mentioned in this article<\/h6>\n
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Latest Alpha<\/span> Market Report<\/h6>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin miner Marathon Digital CEO Fred Thiel suggested that the firm could raise capital through convertible bonds to purchase more of the flagship digital asset in the future. This follows the firm\u2019s recent purchase of $100 million worth of Bitcoin, raising its total holdings to over 20,000 BTC. Future purchases In a Telegram message to […]<\/p>\n","protected":false},"author":2,"featured_media":352851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-352843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=352843"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352843\/revisions"}],"predecessor-version":[{"id":352852,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352843\/revisions\/352852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/352851"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=352843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=352843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=352843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}