CEO Marathon: the upcoming halving is already included in the Bitcoin price.
The upcoming halving of rewards for Bitcoin miners is already factored into the current bull cycle to some extent. Marathon CEO Fred Thiel said in an interview with Bloomberg.
In his opinion, the approval of spot ETFs based on the first cryptocurrency “was a huge success” and attracted capital to the market.
The emergence of the instrument led to a rise in prices, which historically was observed three to six months after the halving, Thiel said.
“The event will reduce the supply of Bitcoin by approximately 450 coins per day, which will likely have a small impact on prices. But as miners, we are very excited about the possibilities of halving, when for once prices did not go down, but went up. So everyone is obviously making the most of it,” added the Marathon CEO.
According to Thiel's calculations, after the halving of the reward, the company only needs a Bitcoin price of $46,000 to remain profitable.
Earlier, the head of CryptoQuant, Ki Yoon Ju, said that the cost of mining digital gold using Antminer S19 XP as a result of the halving will increase from $40,000 to $80,000.
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