The head of one of the largest American mining companies, Fred Thiel, said in an interview with Bloomberg TV that the explosive growth in the value of Bitcoin after the halving expected by the crypto community is unlikely. Thiel noted that a reduction in circulating supply to 450 BTC per day may give some impetus to an increase in the price of the asset, but in a global sense will not have any significant impact.
According to the head of Marathon Digital, the market has already won back part of the future price rally in the first trimester.
“I believe the January approval of the Bitcoin ETF, which was a huge success with potential BTC investors, has attracted significant capital to the market. In fact, this has already led to the increase in Bitcoin prices that we could see three to six months after the network halving,” said the CEO of Marathon Digital Holdings.
Fred Thiel told Bloomberg TV that after the halving, Marathon Digital's breakeven level would be about $46,000 per bitcoin. At current prices, this will allow the company to maintain its breakeven.
“As miners, we are calm about the future and expect a reduction in the block reward. This time, BTC prices did not decrease before the halving, but, on the contrary, increased,” Thiel said.
The day before, the CEO of investment management company VanEck, Jan van Eck, suggested that investors would increase interest in Bitcoin and gold as a store of value due to a possible financial crisis in the United States in 2025.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
