MARA Stock Price and News: Marathon Patent Group Inc already 250% up in 2021 as Bitcoin nears $42K
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UNLOCK OFFER- NASDAQ: MARA has been surging, completing a gain of some 250% in 2021.
- Marathon Patent Group Inc is benefiting from the frenzy in cryptocurrencies.
- To sustain Marathon's rally, Bitcoin would need to go beyond $50,000.
A marathon is 42,195 meters long – and Bitcoin's price in dollars is nearly there – BTC/USD has hit a high of $41,986 at the time of writing. The granddaddy of cryptocurrencies is nearly worth one dollar for every meter in the famous race. And Marathon Patent Group Inc (NASDAQ: MARA) is undoubtedly benefiting from this ride.
The Las Vegas-based firm is the holding company of Uniloc, and its price is deeply correlated with Bitcoin. The company recently purchased additional 70,000 Bitmain S19 miners, more than tripling its capacity to extract BTC out of virtual mines. It came after the acquisition of some 10,000 Bitmain S19 Pro Artminers.
The big BTC bet is proving lucrative as the cryptocurrency is breaking records on a daily basis. BTC/USD surged above $30,000 in the long New Year's weekend and has extended its rally also during the first working week of 2021. Marathon followed with a rally of 250% just in the early days of the year. Zooming out to the latest 12 months, MARA's increases are in the thousands of percentage points.
MARA stock forecast
The current rally is heavily dependent on Bitcoin's price, and any downside correction in the digital coin could trigger a slide in NASDAQ: MARA. To sustain the rally, BTC/USD would probably need to move even higher, potentially to the $50,000 level. That would garner further media interest and perhaps more buying.
The "shovel-maker" in this industry may take advantage of the current rally to diversify away to other cryptocurrencies or other projects altogether.
Bitcoin Price Forecast 2021: BTC reaching new horizons, aiming for $100,000
- NASDAQ: MARA has been surging, completing a gain of some 250% in 2021.
- Marathon Patent Group Inc is benefiting from the frenzy in cryptocurrencies.
- To sustain Marathon's rally, Bitcoin would need to go beyond $50,000.
A marathon is 42,195 meters long – and Bitcoin's price in dollars is nearly there – BTC/USD has hit a high of $41,986 at the time of writing. The granddaddy of cryptocurrencies is nearly worth one dollar for every meter in the famous race. And Marathon Patent Group Inc (NASDAQ: MARA) is undoubtedly benefiting from this ride.
The Las Vegas-based firm is the holding company of Uniloc, and its price is deeply correlated with Bitcoin. The company recently purchased additional 70,000 Bitmain S19 miners, more than tripling its capacity to extract BTC out of virtual mines. It came after the acquisition of some 10,000 Bitmain S19 Pro Artminers.
The big BTC bet is proving lucrative as the cryptocurrency is breaking records on a daily basis. BTC/USD surged above $30,000 in the long New Year's weekend and has extended its rally also during the first working week of 2021. Marathon followed with a rally of 250% just in the early days of the year. Zooming out to the latest 12 months, MARA's increases are in the thousands of percentage points.
MARA stock forecast
The current rally is heavily dependent on Bitcoin's price, and any downside correction in the digital coin could trigger a slide in NASDAQ: MARA. To sustain the rally, BTC/USD would probably need to move even higher, potentially to the $50,000 level. That would garner further media interest and perhaps more buying.
The "shovel-maker" in this industry may take advantage of the current rally to diversify away to other cryptocurrencies or other projects altogether.
Bitcoin Price Forecast 2021: BTC reaching new horizons, aiming for $100,000
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