Marathon Digital CEO Fred Thiel shares his insights on the upcoming Bitcoin halving and its potential impact on the cryptocurrency’s price.
Halving’s Effect
The halving, scheduled for April 19th, will reduce the daily Bitcoin production from 900 to 450. Thiel believes this will have a “small impact” on the price.
ETF Influence
Thiel suggests that the recent approval of Bitcoin ETFs in the US may have accelerated the price appreciation that would typically follow the halving. He notes that the total capital in Bitcoin ETFs has already surpassed half of the assets under management in gold ETFs.
Reduced Supply
The halving will reduce Bitcoin’s supply by approximately 450 coins per day. Thiel believes this will have a modest impact on price movements.
Disclaimer
The views expressed in this article are not intended as investment advice. Investors should conduct their own research before making any decisions.
