MARA Holdings, a leading cryptocurrency mining company, saw its stock plummet by 5.10% in pre-market trading on Monday. This significant drop comes amid a broader selloff in the cryptocurrency market, with Bitcoin and other major digital assets struggling to maintain their recent gains.
One key factor contributing to the decline in MARA Holdings' stock is the overall bearish sentiment surrounding cryptocurrencies. As reported, Bitcoin, the world's largest cryptocurrency by market capitalization, wavered around $93,000 on Monday, failing to sustain its recent rally fueled by expectations of crypto-friendly regulations under the incoming Trump administration.
Additionally, skepticism from prominent figures like Bill Gates, who expressed doubts about Bitcoin and stated that he would "short it if there was an easy way to do it," may have further dampened investor sentiment in the crypto space. Such comments from influential personalities highlight the ongoing debate and uncertainty surrounding the long-term prospects of cryptocurrencies.
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