Marathon CEO Anticipates Bitcoin’s Growth to be Stable without a Sudden Spike, Taking Halving into Consideration.

The CEO of Marathon Digital Holdings, Fred Thiel, suggests that the upcoming halving of Bitcoin may already be partially factored into the market due to the success of spot ETF approvals. Thiel attributes Bitcoin’s recent surge to an all-time high partly to the approval of spot ETFs, which has attracted increased capital into the market. However, Thiel hints that Bitcoin’s rally may not be fully exhausted and suggests potential further growth post-halving. Since the beginning of 2024, Bitcoin has witnessed a 60% surge in price value, outperforming Ethereum and other altcoins. Despite the implications of reducing Bitcoin’s supply and cutting miners’ rewards, Thiel expresses enthusiasm for the upcoming halving. He estimates that Marathon’s break-even rate would be around $46,000 per Bitcoin to maintain profitability post-halving. As of now, Bitcoin is trading at $68,826 with a total market value of $2.57 trillion, while Marathon’s MARA stock price has declined over 20% year-to-date.