Marathon’s CEO anticipates no sudden boom for Bitcoin, factoring in the halving.

The CEO of Marathon Digital Holdings, Fred Thiel, has suggested that the upcoming halving of Bitcoin may already be partially factored into the market due to the success of spot ETF approvals. Thiel, in an interview with Bloomberg, attributed Bitcoin’s recent surge to the approval of 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 fully exhausted and suggested potential 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 for the upcoming halving, despite its implications for reducing Bitcoin’s supply and cutting miners’ rewards. He estimated that Marathon’s break-even rate after the halving would be around $46,000 per Bitcoin. At the time of writing, Bitcoin was trading at $68,826, with a total market value of $2.57 trillion.