- Marathon Digital’s Fred Thiel said that Bitcoin halving is already priced in.
- Thiel stated that spot BTC ETFs accelerated the price surge that followed the halving.
- A reduction in the supply of Bitcoin post-halving may not impact the prices.
As the Bitcoin Halving event looms closer, investors and market participants look forward to its market impact. Notably, Fred Thiel, the CEO of Marathon Digital (NASDAQ:MARA), presents a contrarian viewpoint, suggesting that the anticipated halving might not have the expected effect on Bitcoin’s price.
Traditionally, Bitcoin halvings have been associated with bullish momentum due to the reduction in the supply of newly minted bitcoins. However, Theil believes that the momentum has already been priced in.
The Marathon Digital executive emphasizes the significant role played by the approval of Bitcoin exchange-traded funds (ETFs) in the US, resulting in interest and investment in Bitcoin. According to Thiel, the capital inflows driven by ETF approval may have accelerated the price appreciation that typically follows a halving, effectively bringing forward the expected gains.
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