12 Best Bitcoin Stocks To Buy According To Billionaires has been recently released. This article evaluates MARA Holdings, Inc. (NASDAQ:MARA) in comparison to other leading bitcoin stocks available for investment.
Bitcoin’s Performance in 2024
In 2024, Bitcoin emerged as the highest-performing asset, influenced by the introduction of new ETFs and renewed optimism regarding potential deregulation with a new U.S. administration. Despite the bullish trend, Bitcoin experienced notable volatility, encountering substantial price fluctuations throughout the year. By the conclusion of 2024, the cryptocurrency’s value had surged to nearly $94,000 from an approximate starting price of $40,000, as highlighted by a CNBC report. A remarkable price increase occurred just after the U.S. presidential election, propelling Bitcoin beyond $108,000 in mid-December, as investors anticipated favorable regulatory changes following President Donald Trump’s triumph over Kamala Harris.
The Impact of Bitcoin Halving
A fundamental aspect impacting Bitcoin’s price is the halving mechanism. This unique feature reduces the rewards miners earn for validating transactions and adding new blocks to the blockchain, occurring every four years or upon mining 210,000 blocks. The objective is to regulate Bitcoin’s supply, capping it at a maximum of 21 million coins. By limiting new coins entering circulation, halvings historically correlate with price increases. The latest halving event took place on April 20, 2024, reducing the block reward from 6.25 BTC to 3.125 BTC, as seen in previous halvings where reduced supply correlated with rising demand, reinforcing Bitcoin’s appeal as a digital store of value akin to gold.
Institutional Investment Trends
Bitcoin’s expanding influence is also evident in global financial markets and trends in institutional investments. By the end of 2024, investable assets worldwide exceeded $200 trillion, with cryptocurrencies comprising over $3 trillion—approximately 1.5% of the total market. Institutional interest in Bitcoin exchange-traded products (ETPs) intensified, witnessing inflows exceeding $34 billion as Bitcoin gained traction as a viable component of multi-asset portfolios. It stands as a benchmark for the cryptocurrency arena, reflecting investor risk appetite amid evolving economic conditions.
Outlook from Billionaire Investors
In spite of the cryptocurrency market’s fluctuations, optimism from billionaire investors persists. Michael Saylor, the executive chairman of a prominent business intelligence firm, noted substantial gains, leading the list of crypto billionaires according to Forbes. His company, initially a software entity, has transformed into a significant Bitcoin investor, holding approximately 193,000 bitcoins—the largest among corporate holders. Additionally, tech mogul Mark Cuban advocates for cryptocurrency, suggesting its growing integration into the global financial framework could lead it to rival the U.S. dollar as the leading reserve currency.
MARA Holdings Overview
To gather insights for this article, we utilized Insider Monkey’s database of billionaire stock holdings to identify the top 12 companies in the cryptocurrency sector with the most billionaire investors as of Q4 2024. Companies were ranked by the number of affluent investors. MARA Holdings, Inc. (NASDAQ:MARA), recognized as a distinguished bitcoin investment, specializes in developing technologies aimed at enhancing data center efficiency, including liquid immersion cooling and firmware designed for bitcoin mining.
Financial Performance and Future Insights
On February 18, MARA Holdings finalized its acquisition of a wind farm in Hansford County, Texas, enhancing its operational capacity. In 2024, the company reported record-breaking revenue, net income, and adjusted EBITDA, with Q4 revenue climbing 37% year-over-year to $214.4 million, while total annual revenue escalated 69% to $656.4 million. Despite JPMorgan’s recent adjustment of MARA’s price target from $23 to $18 while maintaining a Neutral rating, the stock edged up 0.5%. Overall, MARA ranks 12th among the best bitcoin stocks favored by billionaires, although there are indications that certain AI stocks may present a better opportunity for high returns within a shorter timeframe.
