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Michael Saylor Says MARA On The 'Bitcoin Standard' As Company Doubles Market Cap, Stock Price In Last 3 Months

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Michael Saylor Says MARA On The 'Bitcoin Standard' As Company Doubles Market Cap, Stock Price In Last 3 Months

MARA Holdings Inc. (NASDAQ:MARA) more than doubled its market valuation over the last three months, powered by gains in the apex cryptocurrency and its gradual pivot toward the Bitcoin (CRYPTO: BTC) “Standard."

What happened: Shares of the leading Bitcoin mining company closed at a 9-month high of $27.42 last Friday. The rally brought the firm’s market capitalization to an all-time high of $8.825 billion.

At Monday's close, MARA was valued at $8.24 billion, reflecting an addition of $4.31 billion since Sept. 6, or 109%. During this time, the stock price has nearly doubled from $13.37 to $25.63.

Interestingly, its gains in this period have surpassed those of other major miners, including Riot Platforms Inc. (NASDAQ:RIOT) and Core Scientific Inc. (NASDAQ:CORZ), which grew by 89% and 72%, respectively.

See Also: Tom Lee Predicts S&P 500 To Reach 6,300, Bitcoin To Break $100K By Year-End, Says Trump’s Tariffs Can Be Effective ‘Negotiating Tools’

Why It Matters: The gains have coincided with Bitcoin's rally, which has gained 70% since Sept. 6. 

Furthermore, MARA significantly expanded its Bitcoin stockpile in the period, growing it from 25,945 to 34,794, an addition of 8,849, according to data from bitcointreasuries.net. 

MARA was the second-largest corporate holder of Bitcoin as of this writing and was strongly replicating market leader MicroStrategy Inc.’s (NASDAQ:MSTR) playbook of using interest-free debt to acquire more of the digital asset.

The company announced another private offering of $700 million of zero-coupon convertible senior notes Monday after completing a $1 billion offering of 0% convertible senior notes in November.

MicroStrategy co-founder Michael Saylor referred to MARA as the company on the "Bitcoin Standard."


Price Action: At the time of writing, Bitcoin was trading at $95,953.94, down 1.02% in the last 24 hours, according to data from Benzinga Pro.

Shares of MARA closed 6.53% lower at 25.63 during Monday's regular trading session. The stock has a consensus price target of $23.83 based on the ratings of 17 analysts.

Image via Mara

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Posted-In: Bitcoin miner MARA HoldingsCryptocurrency News Markets

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