Insights from Marathon Digital CEO on Bitcoin Halving Impact
Marathon Digital Holdings CEO Fred Thiel shares his perspective on how the upcoming Bitcoin halving event is likely to influence the price of the leading crypto asset in a recent Bloomberg interview.
BTC Price Impact Post-Halving
The CEO of the crypto mining company anticipates โsome small impactโ on Bitcoinโs price due to the upcoming halving event, set to happen on April 19th, causing a reduction in daily Bitcoin production from 900 to 450.
- The approval of spot Bitcoin exchange-traded funds (ETFs) in the US in January may have disrupted the expected bullish cycle for the flagship crypto asset, moving up its price appreciation timeline. Thiel suggests:
- ETF approval, attracting significant capital into the market, possibly accelerating the price appreciation timeline.
- 11 approved ETFs, with four being the most successful ETF launches ever.
- ETFs already holding more than 50% of assets under management in gold ETFs, a milestone achieved within months compared to decades for gold.
- The halving event will decrease Bitcoin supply by approximately 450 daily, contributing to some price impact.
Marathon Digital Holdings CEO Fred Thiel believes that the Bitcoin halving event, set to take place on April 19th, will have a modest impact on the price of the leading digital currency. Thielโs insights suggest that the recent approval of spot Bitcoin ETFs in the US could have altered Bitcoinโs bullish cycle by attracting significant capital into the market.
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