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 partially reflected in the market. Driven by optimistic sentiment towards the record demand for US Bitcoin spot ETFs, 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 consolidating around $70,000 recently, with the current trading price at around $69,450. Based on the price trends of the previous three halvings, Bitcoin often rises within a few months after halving.
During 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 declined as before, but instead has risen. So obviously, everyone is taking full advantage of this.”
Thiel also estimated that the breakeven point for Marathon after the Bitcoin halving is around $46,000 per coin in order to maintain profitability. According to CoinMarketCap, there are only 9 days left until the Bitcoin halving at the time of this article’s release.
Related articles: “21Shares Report: What’s Different About the Fourth Bitcoin Halving?” Thiel also estimated that after the Bitcoin halving, Marathon’s breakeven point is about $46,000 per coin in order to maintain profitability. According to CoinMarketCap data, at the time of this article’s release, there are only 9 days left until the Bitcoin halving.
Related reports: “Hut 8 CEO: Bitcoin Correction to $30,000 to $40,000 Will Trigger Significant Mining Company Consolidation,” “Bitcoin Halving Leads to Mass Exodus of Old Mining Machines from the US, Mainly Heading to Africa and South America,” “Cantor Fitzgerald Report: 11 Listed Mining Companies May Have Difficulty Profiting from Mining Business After Bitcoin Halving.”
