It is a good idea to get in touch with someone who can help you. interview Fred Thiel shared his positive outlook on Bitcoin with CNBC Monday. The CEO of Marathon Digital Holdings (NASDAQ: MARA), Fred Thiel, shared his bullish outlook on Bitcoin with CNBC.
Thiel dismissed Thiel’s impact on the recent Bitcoin halving, stating, “I think the halving had zero effect.” The Bitcoin price spike was attributed to the recent introduction of the spot ETFs (exchange-traded Funds). “In January, you had the ETFs that launched that drove all of a sudden the beginnings of some institutional interest,” He noted.
Institutions Just ‘Waiting To Buy Up’ Bitcoin
Thiel noticed that institutional investors began to enter the market after the retail investments. “At first, it was mainly retail investors who invested in these ETFs. But as institutional players entered the market, Thiel noticed a shift. MicroStrategy‘s,” he added.
He highlighted that political events could have a significant impact on BTC. The CEO said: “With the elections, you know. Donald Trump ran on a platform that is very pro-Bitcoin—Bitcoin strategic reserve, mining in the US, etc.,” Thiel said. Thiel suggested that a pro-Bitcoin stance might lead to more favorable regulatory conditions in the United States.
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“What that’s ended up driving is a huge belief that all of a sudden the regulatory environment for Bitcoin and crypto will get much better, that the US will double down and really invest in Bitcoin potentially,” He said. The anticipated change could encourage other countries to adopt policies similar to the US, thus promoting global adoption.
Thiel also highlighted the robust dynamics of the market that is absorbing pressure to sell from long-term owners. “Every single Bitcoin that had been purchased was in profit, and you started long-term holders who had held Bitcoin for years beginning to liquidate a little bit to take some profits,” He added. In spite of this, he highlighted the market’s resilience. “There is so much demand in the market that it just keeps soaking it up.”
Thiel, in response to concerns regarding Bitcoin’s notoriously volatile price, asserted, that major drawdowns could be history, or at least soon. “The volatility of past years, where you would hit a peak and then see a 20% or 30% drawdown, I think are gone, at least for the near-term future,” He stated. He thinks that investors will enter the market with a vengeance. “I think what we’re going to see is essentially institutions just waiting to buy up Bitcoin,” Thiel predicted.
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Recent actions of major corporations were cited to back up his view. “You look at MicroStrategy—they’re [issuing a] $3 billion bond; they’re out there buying Bitcoin very aggressively,” He added. “We issued a bond of $1 billion at 0% coupons the same week that Michael Saylor We went and bought hundreds of millions in Bitcoin.” Thiel stressed that this trend has gained momentum. “Lots of people are starting to do this now.”
Thiel ended his insight by saying that he is confident in the upward trajectory of Bitcoin. “Anybody who’s selling is selling into a market where there’s ample demand, and I think that for the foreseeable future we’ll continue to see Bitcoin price move up—you know, up and down, up and down—but generally the trend will be upwards,” “He said”
Cantor-Fitzgerald recently made headlines for a number of reasons adjusted It raised its target price for MARA to $42 from $33. Mara Holdings has completed an important $1 billion convertible bond offering. Mara raised $980 million, of which $199 was used to pay back the principal amount of $222 millions in 2026 convertible notes. The company will use the remaining $781 million to buy more Bitcoins, using a similar strategy to MicroStrategy.
Mara, however, operates by far the largest Bitcoin mining operation publicly traded in terms of hash rate. Cantor analysts highlight this key difference as having bullish potential.
BTC is currently trading for $92,531.
Chart from TradingView.com, Featured Image from YouTube
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Source: www.newsbtc.com
