Bitcoin miner MARA Holdings snapped up 400 BTC worth $46.29 million from institutional crypto liquidity provider FalconX earlier today, as institutional investors view last week’s historic market crash as a buying opportunity rather than the start of prolonged weakness.

The purchase, conducted through MARA’s wallet address “3MYao,” pushes the publicly-traded mining company’s total holdings to over 53,000 BTC, maintaining its position as second-largest corporate Bitcoin holder behind Strategy’s 640,031 BTC, according to Bitcoin Treasuries Net data.

The acquisition comes as Bitcoin has rebounded to $114,763, up 3.2% in the last 24 hours, according to CoinGecko data, following what became the largest liquidation event in crypto history on Friday.

Over $19 billion in crypto positions were wiped after President Donald Trump threatened “massive” tariffs against China, sending Bitcoin plummeting from above $121,000 to below $106,000 before recovering.

Markets stabilized over the weekend after Trump softened his rhetoric, posting on Truth Social that Washington “wants to help China, not hurt it,” and describing Chinese President Xi Jinping as “highly respected.” 

“The market broke down into chaos last week and almost immediately everybody was buying,” Pav Hundal, Lead Market Analyst at Swyftx, told Decrypt.

“This was the largest liquidation event we’ve seen in crypto, but each time we see resets and the market just goes about its business again, which is exactly what seems to be happening with MARA,” Hundal added.

Hundal said MARA appears to be “looking at the geo-economics and taking a call that Bitcoin now has more room to run,” noting potential for additional global monetary easing as “inflation forecasts are facing a double whammy at the moment with both oil prices and demand down.”

MARA’s stock closed at $18.64 on October 10, down 7.75% from its previous close of $20.20, pointing to broader market weakness, according to Google Finance data.