Marathon Patent Group Buys $150 Million in Bitcoin
In the last few months, we have heard many institutional investors to hold positions in Bitcoin, creating large demand in the market. Companies like MicroStrategy made the first step in this process and many followed.
This week, Marathon Patent Group bought 4,813 bitcoins, total value of around $150 million, looking for creating a better reserve instead of cash. The average price was $31,135, showing that institutional investors’ interest is still evident at high price levels.
Marathon’s activity in the mining sector has increased in the last year, giving it the opportunity to become one of the companies that can shape the trends in the space, depending on the closed deals. Every move in the future will show Bitcoin’s ability to reach new levels at daily basis.