According to Bloomberg, Fred Thiel, CEO of Marathon Digital, a US Bitcoin mining company, said on Tuesday that the rebound of Bitcoin halving may have been anticipated by the market to some extent. Driven by optimistic sentiment towards the record demand for US Bitcoin spot ETF, Bitcoin has risen by over 60% since the beginning of this year. After reaching a new high of $73,757 in mid-March, the price of Bitcoin has been hovering around $70,000 recently, with the current trading price at around $69,450. Based on the price trends after the previous three halvings, Bitcoin tends to rise within a few months after halving.
In an interview with Bloomberg TV, Fred Thiel stated, “The halving event will reduce the daily supply of Bitcoin by about 450 coins, which may have some minor impact on the price. But as miners, we are very excited about entering the halving phase because the price has not dropped before halving as it used to, but instead has risen. So obviously, everyone is taking full advantage of this.”
Thiel also estimated that Marathon’s breakeven point after Bitcoin halving is around $46,000 per Bitcoin in order to remain profitable. According to CoinMarketCap data, as of the time of this article’s publication, there are only 9 days left until Bitcoin halving.
Related articles: “21Shares Report: What’s Different About the Fourth Bitcoin Halving?” Thiel also estimated that after Bitcoin halving, Marathon’s breakeven point is around $46,000 per Bitcoin in order to remain profitable. According to CoinMarketCap data, as of the time of this article’s publication, there are only 9 days left until Bitcoin halving.
Related reports: “Hut 8 CEO: Bitcoin Correction to $30,000 to $40,000 Will Trigger a Wave of Mining Company Mergers and Acquisitions” “Bitcoin Halving Prompts Large-scale Migration of Old Mining Machines Out of the US, Mainly to Africa and South America” “Cantor Fitzgerald Report: 11 Listed Mining Companies May Struggle to Profit from Mining Business After Bitcoin Halving”
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