Marathon Digital Holdings, one of the largest Bitcoin [BTC] miners, has added In the early hours of Tuesday, June 16, 1,000 BTC worth $66.7 million was placed on the balance sheet, deepening a position in the company’s treasury that it has been building all year.
The purchase increases the miner’s total holdings to approximately 36,303 BTC, valued at $2.4 billion, according to the latest data from BitcoinTreasuries. It is enough to rank Marathon as the fourth largest Bitcoin Digital Asset Treasury (DAT).
Marathon’s move fits into a broader pattern. Bitcoin held by DATs has grown 3.2% over the past 30 days to 1.263 million BTC, or about $83.84 billion, as these companies continue to treat the asset as a core reserve.
Michael Saylor’s strategy has driven much of that growth. He reportedly acquired 3,136 BTC this month through purchases on June 8 and 15.
The company also recorded its first public sale, waiving 32 BTC, which led to a broader pullback, dragging Bitcoin to $63,000 last week. Strategy now owns assets worth $56.3 billion.
The size of these purchases carries weight, and with Bitcoin still trading in the $60,000 region at the time of writing, the timing points to a deliberate attempt to accumulate at lower prices.
American demand follows the global market
The clearest information on whether this is a genuine belief rather than an opportunistic purchase can be found in the US spot Bitcoin ETFs, which reflect how traditional US investors are positioned.
These funds tell a more cautious story. Bitcoin exchange-traded funds have largely continued to drain capital, registering just two days of net inflows between April 15 and now: $3.05 million on June 4 and $85.85 million on June 12. In the session ending April 15, investors instead raked in $64.09 million as renewed geopolitical conflict sent the market into a cooldown.
The Coinbase Premium Index reinforces that gap.
The gauge, which measures demand for Bitcoin in the US versus global activity on Binance, has fallen to roughly negative 0.0078, indicating weaker appetite among US buyers versus the rest of the market. In the longer term, however, the view is less gloomy: the price is recovering sharply from -0.179 on May 27.
Bitcoin’s year-to-date slide shows the bet
Bitcoin has struggled for most of the year and is down at least 23.05% since the start of the year as selling pressure continues. Analysts link much of that decline to escalating tensions between the US and Iran, which has steadily pulled capital from risky assets and let Bitcoin lead the losses.
The mood has improved in recent sessions as the warring sides move toward a possible resolution, and Bitcoin has followed the shift higher, gaining 7.66% over the past seven days.
For DATs, the recent accumulation reads as a bet that prices will rise from here on out – although analysts warn that a decline towards $53,000 is still underway, consistent with how Bitcoin has behaved in recent bear cycles.
- Marathon has purchased 1,000 Bitcoin worth $66.7 million, joining a wave of companies stacking the asset as a long-term reserve.
- Despite the buying frenzy, ordinary US investors remain cautious, while Bitcoin funds in the country continue to see money draining.