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MARA Holdings eyes $2B stock offering to supercharge Bitcoin acquisitions
MARA Holdings has launched a massive $2 billion stock offering in a bid to further bolster its Bitcoin holdings and solidify its position as a major institutional player in the cryptocurrency market. This bold move mirrors the strategy employed by MicroStrategy, which has also leveraged its corporate structure to accumulate significant BTC reserves.
According to reports, MARA Holdings has entered an at-the-market equity program with multiple investment banks, including Barclays, Cantor Fitzgerald, BMO Capital Markets, and BTIG. Under this arrangement, the company can sell up to $2 billion worth of common stock on the open market whenever it sees fit.
Proceeds from the stock offering will be used to purchase Bitcoin directly on the open market, with a focus on maintaining liquidity. This strategic shift reflects MARA’s growing confidence in the long-term prospects of Bitcoin and its commitment to building a massive treasury of the cryptocurrency.
Interestingly, MARA’s decision to leverage corporate instruments for BTC acquisition comes amidst a surge in institutional interest in the asset class. The recent influx of capital into Coinbase Prime highlights this trend, with large entities actively accumulating Bitcoin behind the scenes through over-the-counter (OTC) trades.
Source: https://ambcrypto.com/mara-holdings-eyes-2b-stock-offering-to-supercharge-bitcoin-acquisitions/
