Brief
- MARA Holdings purchased 400 BTC worth $46.29 million from institutional liquidity provider FalconX.
- The purchase comes as Bitcoin rebounded to $114,763 after the largest liquidation event in crypto history wiped out more than $19 billion in positions last Friday.
- Analysts say the acquisition signals the company’s confidence that Bitcoin has “more room to maneuver” as Trump softens tariff rhetoric and global monetary easing remains on the table.
Bitcoin miner MARA Holdings scooped up 400 BTC worth $46.29 million from institutional crypto liquidity provider FalconX earlier today, as institutional investors view last week’s historic crash as a buying opportunity rather than the start of prolonged weakness.
The purchase, made via MARA’s wallet address “3MYao“, brings the publicly traded mining company’s total holdings to over 53,000 BTC, retaining its position as the second largest corporate bitcoin holder behind Strategy’s 640,031 BTC, according to Bitcoin Treasuries Net data.
The acquisition comes as Bitcoin rebounded to $114,763, up 3.2% in the past 24 hours, according to CoinGecko datafollowing what became the largest liquidation event in crypto history on Friday.
More than $19 billion in crypto positions have been wiped after President Donald Trump threatened to impose “massive” tariffs against China, sending Bitcoin tumbling from over $121,000 to below $106,000 before recovering.
Markets stabilized over the weekend after Trump softened his rhetoric, post on Truth Social that Washington “wants to help China, not harm it,” and calling Chinese President Xi Jinping “highly respected.”
“The market descended into chaos last week and almost immediately everyone bought,” said Pav Hundal, senior market analyst at Swyftx. Decrypt.
“This is the largest liquidation event we have seen in crypto, but every time we see resets, the market comes back into action, which is exactly what seems to be happening with MARA,” Hundal added.
Hundal said MARA appears to be “looking at the geoeconomics and taking into account that Bitcoin now has more room to run,” highlighting the potential for further global monetary easing as “inflation forecasts are currently facing a double whammy with oil prices and demand falling.”
MARA stock closed at $18.64 on Oct. 10, down 7.75% from its previous close of $20.20, indicating broader market weakness, according to Google Finance. data.
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