According to Marathon Digital Holdings Inc. CEO Fred Thiel in an interview with Bloomberg TV that Bitcoin halving effect already factored in, a software code upgrade predicted to hike values.
Backed by anticipation about record demand for US cryptocurrency ETFs, bitcoin rallied 60% in 2024. Thiel thinks that the adoption of ETFs has advanced possible price gains following the halving.
Marathon, which has mining operations all throughout the US, projects that the halving will reduce the supply of Bitcoin by 450 per day, somewhat affecting pricing. Even though the price of Bitcoin recently fell 4% to $68,773, Marathon projects that its break-even rate after halving will be $46,000 per Bitcoin.
Marathon’s stock is up 1% to $18.11, after being down 23% so far this year. Thiel points out that although price drops are typically preceded by halving, the current state of the market excites miners.
Attention is paid to Bitcoin price patterns, Marathon’s halving preparations, and Thiel’s observations in this news, which caters to readers who are interested in market dynamics and cryptocurrencycurrency investment.
