MARA Holdings Inc. (NASDAQ:MARA) CEO Fred Thiel reiterated the company’s commitment to its Bitcoin holding strategy on Thursday, emphasizing the potential benefits for its stockholders.

What Happened: During the first quarter earnings call, Thiel said MARA held a “distinguishing” position in the market, allowing shareholders to gain from its Bitcoin HODL play as well as pure-play mining activities.

“What MARA is doing is a twin turbocharge strategy,” Thiel said. “And then when you drive a twin turbo engine, you see the benefit of both the sides.”

Thiel also noted that the decision to pivot to a “full HODL” strategy was based on careful market conditions and macroeconomic factors analysis, which he believed would yield long-term benefits for MARA stockholders.

“So I think we’re going to continue to see things move up in Bitcoin longer term, which is why we are still in very much a full HODL position,” he added.

See Also: Tether Enables Binance To Convert 3B USDT From Tron To Ethereum

Why It Matters: MARA adopted a buy-and-hold strategy in July of 2024, retaining all Bitcoin it mines and periodically making strategic open market purchases. In March, the firm revealed plans to raise up to $2 billion through a stock offering to expand its Bitcoin treasury.

As of this writing, MARA was the second-largest corporate holder of Bitcoin, amassing a stockpile of 48,237 BTC, worth $4.97 billion, according to Bitcointreasuries.net. Michael Saylor’s Strategy Inc. (CRYPTO: BTC) remains the market leader, having over $57 billion in Bitcoin.

MARA reported worse-than-expected first-quarter financials after market close, with revenue and earnings missing analyst estimates.

Price Action:  At the time of writing, Bitcoin was exchanging hands at $103,197.90, up 4.22% in the last 24 hours, according to data from Benzinga Pro. 

Shares of MARA dipped 1.82% in after-hours trading after closing 7.20% higher during Thursday’s regular session.

MSTR reported low momentum and growth scores as of this writing. To find out how Strategy and other Bitcoin-holding firms stack up on these parameters, visit Benzinga Edge Stock Rankings.

Photo Courtesy: OlegD On Shutterstock.com

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