Marathon CEO Believes that Bitcoin Halving is Already Priced In

• Marathon Digital’s Fred Thiel stated that Bitcoin halving is already priced in.
• Thiel said that spot BTC ETFs accelerated the worth surge that adopted the halving.
• A discount within the provide of Bitcoin post-halving could not affect the costs.

Because the Bitcoin Halving occasion looms nearer, buyers and market individuals sit up for its market affect. Notably, Fred Thiel, the CEO of Marathon Digital, presents a contrarian viewpoint, suggesting that the anticipated halving won’t have the anticipated impact on Bitcoin’s value.

Historically, Bitcoin halvings have been related to bullish momentum as a result of discount within the provide of newly minted bitcoins. Nonetheless, Theil believes that the momentum has already been priced in.

The Marathon Digital govt emphasizes the numerous function performed by the approval of Bitcoin exchange-traded funds (ETFs) within the US, leading to curiosity and funding in Bitcoin. In response to Thiel, the capital inflows pushed by ETF approval could have accelerated the worth appreciation that sometimes follows a halving, successfully bringing ahead the anticipated beneficial properties.

In an interview with Bloomberg TV, Thiel expressed his views, stating, 

“The ETF approval, which has been an enormous success, has attracted capital into the market and basically introduced ahead what might have been the worth appreciation we sometimes would have seen three to 6 months put up halving.”

However, an analogous prediction got here from BitMEX co-founder Arthur Hayes, who said that Bitcoin would plummet earlier than and after the halving occasion. 

Moreover, Michael Jerlis, CEO and founding father of EMCD Mining Pool, said that earlier than and after the halving occasion, “it’s like using a rollercoaster: costs soar, they dip, and everybody’s eyes flip to altcoins for a thrill.”