Latest news for BCE (OTC:BCEFF) Stock

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the incumbent local exchange carrier, or ILEC—the legacy telephone provider—throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz.

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BCE Inc

Facing a looming government shutdown, the Senate moved swiftly on Saturday to pass a bipartisan bill that temporarily funds federal operations and provides disaster aid. 
What Happened: The House, led by Speaker Mike Johnson, overwhelmingly approved the legislation, 366-34, before the Senate passed it late Friday night with an 85-11 vote. The White House confirmed shutdown preparations ceased at midnight, with President Joe Biden expected to sign the bill into law on Saturday.
The measure notably excludes President-elect Donald Trump's demand for a debt ceiling increase, pushing that contentious issue into the new year, <a href="https://apnews.com/article/trump-government-shutdown-deadline-speaker-johnson-budget-da117337aa0c0adab34a5626bb5816af">reports</a> The Associated Press.
Johnson described the outcome as "a good result for the country" and noted that Trump, while initially critical of the deal, expressed satisfaction with the final outcome. 
However, Trump had earlier warned in a social media post that without a debt ceiling provision, "let the closures start now."
The legislation, a drastically slimmed-down 118-page package, funds federal operations through March 14, allocates $100 billion for disaster relief, and includes $10 billion for agricultural aid. 
<a href="https://www.benzinga.com/markets/24/12/42497093/stock-market-predictions-for-2025-a-mixed-bag-of-expectations">Also Read: Stock Market Predictions for 2025: A Mixed Bag Of Expectations</a>
Absent from the final version is Trump's demand for a long-term debt ceiling increase, which GOP leaders promised to address next year as part of broader fiscal negotiations. Republicans also agreed to pursue $2.5 trillion in spending cuts over a decade.
While the bill garnered bipartisan support, it exposed fractures within the GOP. Many conservative Republicans voted against the measure, preferring deeper spending cuts. 
Meanwhile, House Democrats provided significant support, with Minority Leader Hakeem Jeffries (D-N.Y.) crediting his caucus for preventing a shutdown and protecting working-class Americans.
However, Democratic concerns over the influence of billionaire Elon Musk on the legislative process sparked debate. "Who is in charge?" asked Rep. Rosa DeLauro (D-Conn.), suggesting Musk was exerting undue sway over Trump's allies, reports the outlet.
Why It Matters: Trump, alongside Musk, who heads the newly established Department of Government Efficiency, is pushing an aggressive agenda to cut federal budgets and reshape government operations. 
Musk has even been floated as a potential speaker by some Trump allies. Meanwhile, Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell warned of the economic and political consequences of another shutdown.
As Congress grapples with balancing Trump's demands and bipartisan governance, Johnson's ability to lead will face significant scrutiny in the months ahead.
Read Next
<a href="https://www.benzinga.com/markets/24/12/42571835/trumps-rejection-of-bipartisan-deal-fuels-government-shutdown-fears-how-markets-historically-react-to-political-turmoil">Trump&#8217;s Rejection Of Bipartisan Deal Fuels Government Shutdown Fears: How Markets Historically React To Political Turmoil</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

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Senate Avoids Shutdown With Last-Minute Deal Amid Trump's Debt Ceiling Demands

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
Major averages jumped on Friday but still logged weekly losses, with the Dow down 2.3%, the S&amp;P 500 falling 2%, and the Nasdaq losing 1.8%. 
The Federal Reserve&#8217;s widely anticipated 25-basis-point rate cut on Wednesday was overshadowed by its revised 2025 inflation forecasts and Jerome Powell&#8216;s cautious stance, dampening hopes for deeper cuts next year. Powell emphasized a "new phase" of monetary policy after a 100-basis-point reduction in 2024, signaling <a href="https://www.benzinga.com/news/large-cap/24/12/42629219/fed-cuts-interest-rates-but-powell-spoils-santa-claus-rally-dollar-surges-to-over-2-year-high-bitcoin-sinks-below-100000-this-week-in-the-market">only gradual easing in 2025</a>.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which had reached a record $108,388 before the Fed meeting, fell below $100,000 as markets absorbed the news.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042">Elon Musk Hopes TSLA Stock Will Reach $690 As Analysts Raise Price Target Despite Technical Indicators Flashing Warning Signals</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reports Elon Musk's optimism about Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reaching $690, as analysts upgraded the stock with $515 price targets, citing potential benefits from Musk's alignment with Donald Trump's pro-autonomous vehicle policies.
&#8220;<a href="https://www.benzinga.com/24/12/42602503/dave-portnoy-says-he-owns-15-million-bitcoin-13-million-xrp-bet-it-and-set-it-not-trading">Dave Portnoy Says He Owns $1.5 Million Bitcoin, $1.3 Million XRP: &#8216;Bet It And Set It, Not Trading&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a> , reveals that Dave Portnoy, founder of Barstool Sports, holds $1.5 million in Bitcoin and $1.3 million in XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), emphasizing a long-term investment strategy rather than active trading, following insights from a recent conversation with Michael Saylor.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42516826/nvidia-and-5-other-stocks-are-analysts-top-semiconductor-picks-for-2025-sees-2-ai-trends">Nvidia And 5 Other Stocks Are Analyst&#8217;s Top Semiconductor Picks For 2025, Sees 2 AI Trends</a>,&#8221; by <a href="https://www.benzinga.com/author/hayden-buckfire">Hayden Buckfire</a>, highlights a Bank of America analyst naming NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) as top AI-driven semiconductor picks for 2025, alongside Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), and Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>).
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/tech/24/12/42547442/microsof-scoops-up-485000-nvidia-ai-chips-twice-as-many-as-its-closest-rival-meta-report">Microsoft Scoops Up 485,000 Nvidia AI Chips, Twice As Many As Its Closest Rival Meta: Report</a>
<a href="https://www.benzinga.com/trading-ideas/24/12/42599673/amazon-has-20000-rivian-electric-delivery-vans-in-fleet-heres-what-could-be-next-for-both-companies">Amazon Has 20,000 Rivian Electric Delivery Vans In Fleet: Here&#8217;s What Could Be Next For Both Companies</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42535298/joby-clears-faa-tail-test-stock-flies-higher">Joby Clears FAA Tail Test, Stock Flies Higher</a>
The Bears
&#8220;<a href="https://www.benzinga.com/markets/equities/24/12/42522048/jim-cramer-warns-nvidias-vicious-and-fast-reversal-is-coming-amid-174-surge-this-year-and-china-antitrust-probe">Jim Cramer Warns Nvidia&#8217;s &#8216;Vicious&#8217; And &#8216;Fast&#8217; Reversal Is Coming Amid 174% Surge This Year And China Antitrust Probe</a>,&#8221; by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkote</a>, features Jim Cramer's caution about NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) facing a sharp correction after its 174% YTD gain, amid heightened regulatory scrutiny from China over its Mellanox Technologies acquisition.
&#8220;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42568740/dogecoin-bull-says-he-had-to-sell-as-meme-king-plunges-to-5-week-low-but-derivative-traders-remain-bullish">Dogecoin Bull Says He &#8216;Had To Sell&#8217; As Meme King Plunges To 5-Week Low But Derivative Traders Remain Bullish</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) dropping amid Federal Reserve concerns, with early adopter Glauber Contessoto selling some holdings.
&#8220;<a href="https://www.benzinga.com/24/12/42517567/cvs-cigna-unitedhealth-shares-slide-as-trump-targets-drug-middleman">CVS, Cigna, UnitedHealth Shares Slide As Trump Targets Drug &#8216;Middleman&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that shares of CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), and UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) dropped after Trump vowed to eliminate Pharmacy Benefit Managers, citing their role in inflating drug prices and contributing to industry inefficiencies.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/news/global/24/12/42559347/trump-administration-could-ban-amazons-top-selling-routers-linked-to-chinese-cyberattacks-report">Trump Administration Could Ban Amazon&#8217;s Top-Selling Routers Linked To Chinese Cyberattacks: Report</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42529095/bitcoin-crash-could-trigger-stock-market-decline-in-2025-warns-expert-im-very-worried-that-people-overextended-themselves">Bitcoin Crash Could Trigger Stock Market Decline In 2025, Warns Expert: &#8216;I&#8217;m Very Worried That People Overextended Themselves&#8217;</a>
<a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">Costco Warns That Tariffs Raise Prices, Trump Team Says Trade Policies Will &#8216;Make Life Affordable&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.

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Benzinga Bulls And Bears: Tesla, Broadcom, UnitedHealth, Bitcoin And Dogecoin Bull 'Had To Sell' After Price Plunge

The ability for college athletes to be paid for their name, image and likeness in a blockbuster 2021 NCAA agreement has changed NCAA Football forever and will see one player get paid in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in 2025, following other professional<a href="https://www.benzinga.com/general/sports/24/11/41918833/nfl-player-mocked-for-taking-salary-in-bitcoin-russell-okung-may-have-the-last-laugh-as-btc-soars"> athletes into cryptocurrency</a>.
What Happened: Since the approval of NIL deals, top <a href="https://www.benzinga.com/topic/ncaa-football">NCAA Football players</a> have been able to earn thousands and millions of dollars on deals.
USC recruit Matai Tagoa'i announced he will be paid in Bitcoin for a portion of his NIL payments starting next year, as reported by On3.
The deal comes through a partnership with Strike, a Bitcoin payments app. USC NIL collective House of Victory helped facilitate the deal.
"This is a game-changer for me. By taking part of my NIL earnings in Bitcoin, I'm setting myself up for long-term financial growth. I'm grateful to Strike, House of Victory and 3Point0 Labs for helping me take this step," Tagoa'i said.
With the deal, Tagoa'i is believed to be the first college athlete to get paid NIL payments in Bitcoin.
"I'm proud to be part of this innovative collaboration that's redefining the future of college athletics and finance and hope to set an example for other young athletes."
Strike founder Jack Mallers, who has helped with other <a href="https://www.benzinga.com/markets/cryptocurrency/21/07/21984141/nfls-saquon-barkley-to-take-100-of-endorsement-money-in-bitcoin">Bitcoin deals for athletes</a>, took to social media to share his excitement for the deal.
"Bitcoin is more than a new technology. Bitcoin is a cultural phenomenon. An idea and a movement that's time has come. Excited to work with @mataitagoai and more athletes around the world that want to keep the wealth they earn and inspire new generations to sue better money," Mallers tweeted.
A four-star recruit and top-100 recruit nationwide, the linebacker is expected to be a key to USC Football next season. Tagoa'i picked USC over other top schools he was considering including Oklahoma, Texas, Texas A&amp;M and Washington.
USC finished with a 6-6 record in the 2024 NCAA Football season, including a 4-5 record in the Big Ten Conference, its first in the conference.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40047361/soccer-player-bet-on-bitcoin-in-2021-with-salary-is-now-up-over-100-im-a-simple-man-i-like">Soccer Player Bet On Bitcoin In 2021 With Salary, Is Now Up Over 100%: &#8216;I&#8217;m A Simple Man, I Like Playing Football And I Like Playing With My Bitcoins&#8217;</a>
Why It's Important: Former NFL player Russell Okung previously made headlines in 2020 as he announced that half his salary would be paid in Bitcoin.
While many criticized the deal and later took shots at Okung when the price of Bitcoin went down, the former NFL player is having the last laugh now with Bitcoin<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024"> trading near $100,000</a> and significantly higher than when he acquired it.
The approval of NIL continues to play a big role in college sports, specifically college football and the deal between Strike and Tagoa'i could be the first of more cryptocurrency deals to come.
<a href="https://www.benzinga.com/news/21/07/21816797/ncaa-athletes-can-now-make-a-profit-off-their-nil-what-to-know-and-some-early-deals">NIL deals</a> have even seen one of the richest people in the world help the University of Michigan <a href="https://www.benzinga.com/24/11/42201909/hail-to-the-victors-and-larry-ellison-billionaire-helps-michigan-football-land-top-recruit-bryce-underwood">land a top QB recruit, </a>as Benzinga previously shared. NIL is also the reason there was a new NCAA Football game for Electronic Arts Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) this season, which went on to be a top selling game for the year.
BTC Price Action: Bitcoin trades at $95,924.19 at the time of writing, versus a 52-week trading range of $38,521.89 to $108,268.45. Bitcoin is up 117% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports/24/12/42521231/travis-hunter-wins-heisman-will-he-be-1-pick-in-2025-nfl-draft-what-betting-odds-history-show">Travis Hunter Wins Heisman, Will He Be #1 Pick In 2025 NFL Draft? What Betting Odds, History Show</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Sports

USC Football Player Gets NIL Earnings In Bitcoin: 'Setting Myself Up For Long-Term Financial Growth'

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has <a href="https://www.benzinga.com/24/12/42321349/drakes-legal-fight-involving-kendrick-lamar-takes-center-stage-and-so-do-their-mega-mansions">strongly denied allegations</a> from Drake that it &#8220;artificially inflated&#8221; streaming numbers for rival artist Kendrick Lamar&#8217;s track &#8220;Not Like Us.&#8221;
What Happened: In opposition papers filed, Spotify stated it &#8220;has no economic incentive&#8221; to favor Lamar&#8217;s track over Drake&#8217;s music, <a href="https://variety.com/2024/music/news/spotify-slams-drake-claim-inflated-kendrick-lamar-streams-1236256265/">reported</a> Variety.
&#8220;Marquee was purchased on behalf of the song, for €500 to promote the track in France. Marquee is a visual ad that is disclosed to users as a Sponsored Recommendation,&#8221; stated a Spotify spokesperson.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/09/41009103/spotifys-ai-playlist-now-available-in-us-other-countries-heres-how-it-works">Spotify&#8217;s AI Playlist Now Available In US, Other Countries: Here&#8217;s How It Works</a>
Drake&#8217;s company Frozen Moments had previously filed a petition claiming that Spotify and Universal Music Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UMGNF#OTC">UMGNF</a>) artificially boosted Lamar&#8217;s streaming numbers.
The petition alleged UMG offered Spotify a 30% discount on licensing rates in exchange for promoting &#8220;Not Like Us,&#8221; a claim both companies deny.
Earlier, Universal Music Group rejected the accusations as &#8220;offensive and untrue,&#8221; underscoring their commitment to ethical marketing practices. A UMG spokesperson stated that fan choice, not manipulation, drives streaming numbers.
Drake&#8217;s legal team responded through a statement to Variety, challenging both companies to comply with discovery requests if they have &#8220;nothing to hide.&#8221;
Why It Matters: The dispute has expanded beyond streaming numbers, with Drake filing a separate action in Texas alleging defamation and improper radio promotion practices.
Neither artist is directly signed to UMG, instead licensing their music through their own companies &#8211; Drake&#8217;s OVO and Lamar&#8217;s pgLang &#8211; to Universal labels for marketing and distribution.
Sources familiar with the matter suggest that Drake&#8217;s petition primarily targets Universal — the label responsible for distributing his music since his 2009 debut with Lil Wayne's Young Money — rather than Spotify, iHeart, or Lamar himself, the report noted.
However, the timing of the legal action, revolving around a song tied to the prolonged feud between the two artists, seems far from coincidental.
"Not Like Us" stands out as a diss track that not only climbed to the top of the Billboard Hot 100 but also secured multiple nominations for the 2025 Grammy Awards.
Price Action: Spotify&#8217;s stock rose by 1.48% on Friday, closing at $460.88. Year-to-date, the company&#8217;s shares have skyrocketed 144.11%, significantly outperforming the Nasdaq 100 index, which has gained 28.68% during the same timeframe, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42522048/jim-cramer-warns-nvidias-vicious-and-fast-reversal-is-coming-amid-174-surge-this-year-and-china-antitrust-probe?itm_source=parsely-api">Jim Cramer Warns Nvidia's ‘Vicious' And ‘Fast' Reversal Is Coming Amid 174% Surge This Year And China Antitrust Probe</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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SPOT

UMGNF

Spotify Fires Back At Drake: Calls 'Artificially Inflated Streams' Allegation Over Kendrick Lamar's Hit Unfounded

Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) shares are soaring in after-hours trading Friday after the company announced it has entered into a definitive agreement for a <a href="https://www.benzinga.com/pressreleases/24/12/g42630663/rumble-announces-775-million-strategic-investment-from-tether">strategic investment of $775 million</a> from Tether. 
The Details: Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) has agreed to purchase 103.33 million shares of Rumble Class A Common Stock at a price per share of $7.50, totaling $775 million in gross proceeds to Rumble. 
Rumble said it will use $250 million of the proceeds to support growth initiatives and the remaining proceeds to fund a self tender offer for up to 70 million of its Class A Common Stock at $7.50 per share.
Tether's investment and the tender offer are expected to close in the first quarter of 2025. Rumble&#8217;s existing Board and governance structure will remain unchanged following the closing of the transaction.
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42598651/mystery-drone-sightings-all-over-the-country-trump-says-what-to-know-about-investigations-lawmakers-reactions">&#8216;Mystery Drone&#8217; Sightings Spark Investigations, Politicians Respond: &#8216;Shoot Them Down,&#8217; Trump Says</a>
Chris Pavlovski, Rumble&#8217;s CEO, will retain his controlling stake in the company following the completion of the transaction.&nbsp;
&#8220;I could not be more excited about this collaboration with Tether for a number of reasons. First, many people may not realize the incredibly strong connection between the cryptocurrency and free speech communities, which is rooted in a passion for freedom, transparency, and decentralization," said Pavlovski.&nbsp;
"Second, the immediate commitment of adding $250 million in cash to our balance sheet not only confirms the level of support and commitment to a collaboration between our companies, it also fuels our growth initiatives. And, third, this transaction provides an immediate liquidity event for all of our stockholders who elect to participate in the self tender offer," he added.&nbsp;
Paolo Ardoino, CEO of Tether, commented on the investment in Rumble.&nbsp;
&#8220;Tether&#8217;s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression. In today&#8217;s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative," said Ardoino.
RUM Price Action: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>, Rumble shares are up 50.7% at $10.79 in after-hours trading Friday. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections">&#8216;Santa Came Early&#8217; But Fed Brings &#8216;Coal Next Year&#8217;: Experts Weigh In On Interest Rate Cut, 2025 Projections</a></li>
</ul>
Image: Shutterstock

$USDT

Rumble Stock Soars On $775 Million Investment From Tether: What To Know

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining company MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) announced the acquisition of 15,574 BTC for $1.53 billion, funded by $1.925 billion raised through zero-coupon convertible notes issued in November and December.
What Happened: In a post on social media platform X, MARA revealed its total Bitcoin holdings now stand at 44,394 BTC, valued at approximately $4.3 billion based on Bitcoin&#8217;s current price of $97,377.
The Florida-based firm acquired the cryptocurrency at an average price of $98,529 per Bitcoin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a>
Additionally, MARA repurchased $263 million of its existing convertible notes due in 2026 and plans to use the remaining funds to buy more Bitcoin.
The company also highlighted its Bitcoin yield achievements, reporting a quarter-to-date (QTD) yield of 22.5% and a year-to-date (YTD) yield of 60.9%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">MARA raised $1.925 billion from 0% convertible notes in November and December. Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 15,574 BTC for ~$1.53 billion at ~$98,529 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> and repurchased ~$263 million in aggregate principal amount… <a href="https://t.co/ycGRk9BYfv">pic.twitter.com/ycGRk9BYfv</a>
&mdash; MARA (@MARAHoldings) <a href="https://twitter.com/MARAHoldings/status/1869729480211664974?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Bitcoin proxy MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42509614/microstrategy-expands-bitcoin-holdings-by-15350-btc-worth-15-billion-after-joining-nasdaq-100">aggressively buying up BTC</a> by raising funds through both stock offerings as well as debt. It holds 2.1% of the Bitcoin supply, or about 439,000 BTC, at an average price of $61,725.
Other Bitcoin mining firms are similarly bolstering their reserves.
Hut 8 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) <a href="https://www.benzinga.com/24/12/42596774/whats-going-on-with-hut-8-shares-today">recently acquired 990 BTC</a> for $100 million, bringing its total holdings to 10,096 BTC, worth approximately $983.1 million.
The company's CEO Asher Genoot emphasized the strategic value of building Bitcoin reserves to strengthen the company's financial position while pursuing growth in power and digital infrastructure.
Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) also increased its Bitcoin holdings by <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42485534/riot-platforms-acquires-5117-bitcoin-for-510million">purchasing 5,117 BTC</a> through company-issued bonds, bringing its total to 16,728 BTC, valued at $1.63 billion.
Price Action: Bitcoin was hovering around $97,606 at the time of writing, gaining 0.71% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
MARA Holdings stock gained nearly 2% in after-hours trading on Friday, after closing at $19.96 during the regular trading session.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42495782/crypto-market-predicted-to-surge-to-all-time-highs-by-late-2025-but-a-30-drop-in-bitcoin-prices-could-come-first">Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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Bitcoin Miner MARA Holdings Embraces MicroStrategy Playbook, Acquires $1.53 Billion Worth BTC

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