Fred Thiel, CEO of Marathon Digital Holdings, expressed a bullish outlook on Bitcoin in a CNBC interview, highlighting growing institutional interest and a favorable regulatory climate as catalysts for Bitcoin's price rise. Thiel dismissed the impact of Bitcoin halving, attributing the surge to the launch of spot ETFs sparking institutional interest.
Thiel noted a shift from retail to institutional investments in Bitcoin-related ETFs and equities, citing the involvement of pension funds. The potential political influence was highlighted, with a pro-Bitcoin stance possibly fostering a more supportive regulatory environment in the US.
The anticipated regulatory shift, according to Thiel, could also encourage other nations toward similar policies, driving global Bitcoin adoption. Despite some selling from long-term holders, the strong demand in the market maintains resilience and absorbs pressure.
Thiel addressed concerns over Bitcoin's volatility, suggesting past extreme fluctuations may diminish in the near-term future. He emphasized institutions waiting to enter the Bitcoin market aggressively, supported by actions from major corporations like MicroStrategy and Mara.
Concluding his insights, Thiel expressed confidence in Bitcoin's upward trajectory, supported by significant demand from institutions. Cantor Fitzgerald's revised price target for MARA reflects this optimism, underscoring Marathon's unique position as a major Bitcoin mining operator.
