The recent acquisition of $1.53 billion in Bitcoin by Marathon Digital Holdings has sparked significant discussion among investors, particularly on Reddit forums. This large-scale purchase has raised questions about its impact on Bitcoin's supply and market dynamics, given the cryptocurrency's fixed supply of 21 million coins. Despite this acquisition, Bitcoin has shown resilience, maintaining its price above the $100,000 mark. This stability is seen by some as a sign of strength, suggesting that Bitcoin's volatility may be decreasing as it becomes more mainstream. Additionally, macroeconomic factors, such as the Federal Reserve's interest rate decisions, continue to influence Bitcoin's price movements, adding another layer of complexity to its market behavior.
The 2x Bitcoin Strategy ETF (BITX) experienced a decline, dropping 2.21% to $60.50 as of 12:20 PM on Thursday, December 19.