Marathon’s CEO anticipates a lack of sudden Bitcoin growth, with the impact of halving already factored in.

According to Fred Thiel, the CEO of Marathon Digital Holdings, the largest public U.S. crypto mining company, the upcoming halving of Bitcoin might already be partially factored into the market. Thiel suggested that the recent surge in Bitcoin’s price to an all-time high can be attributed, in part, to the approval of spot exchange-traded funds (ETFs), which has attracted more capital into the market. While acknowledging the impact of ETF approvals, Thiel hinted that Bitcoin’s rally may not be over and that there could be further growth after the halving. Since the beginning of the year, Bitcoin has seen a 60% increase in price, outperforming Ethereum and other altcoins. Thiel expressed enthusiasm about the upcoming halving, despite the implications it has for reducing Bitcoin’s supply and miners’ rewards. He estimated that Marathon’s break-even rate post-halving would be around $46,000 per Bitcoin. Currently, Bitcoin is trading at $68,826, with a total market value of $2.57 trillion. However, Marathon’s stock price has declined by over 20% year-to-date.