Pro Bitcoin MicroStrategy & MARA Show Support Amid BTC Dip

MicroStrategy was the best-performing stock in the year’s first half because its shares rose by 380%, mainly because of the $13.3 billion worth of Bitcoin in its treasury.

Bitcoin price has dropped below the crucial support level of $50,000. However, some companies are still showing support for the cryptocurrency.

MicroStrategy, a software company, has been accumulating Bitcoin for its treasury. The company now holds $13.3 billion worth of the cryptocurrency. This has helped MicroStrategy become the best-performing stock in the year’s first half, with its shares rising by 380%.

Despite the recent market downturn, MicroStrategy stock has remained relatively resistant. This is likely due to the company’s strategy of accumulating Bitcoin, which has helped the company improve its market standing and increase investors’ confidence.

Another company that is showing support for Bitcoin is Marathon Digital Holdings. The cryptocurrency miner has achieved a new record high hash rate of 28.3 EH/s in June 2024.

The company also added 13,000 new miners to its fleet, bringing the total number of units to around 250,000. With an average efficiency of 28.3 EH/s, Marathon Digital Holdings’ total hash rate capacity is expected to reach 31.5 EH/s.

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