Fred Thiel, CEO of Marathon Digital Holdings, Bitcoin $96,525.2He has an optimistic view about the future of (BTC). Thiel stated that Bitcoin will start to rise again between the beginning of 2025 and the inauguration of President Donald Trump.
Bitcoin Price Predictions
Thiel predicts that Bitcoin could rise nearly 108% from current levels in the coming months. However, he noted that before this increase, the Bitcoin price may fall to the levels observed in November 2024.
Impact of Strategic Reserves
The CEO emphasized that the US establishing a strategic Bitcoin reserve would have a positive impact on the cryptocurrency market. Thiel added that the limited supply of Bitcoin would put significant pressure on the price if other countries begin to announce similar reserves.
Demand and Supply Factors
Marathon Digital CEO stated that the Bitcoin supply is limited to 21 million and most of this amount has already been mined. Additionally, investors directing retirement funds and ETFs towards Bitcoin is contributing to increased demand.
“I think the majority of those looking at the Bitcoin price expect a correction and that it will continue to grow after falling to lower levels. “This scenario is quite valid considering the current demand.” –Fred Thiel
The current trading price of Bitcoin stands at $96,200. Thiel predicts that the combination of Bitcoin’s limited supply and increasing demand will have a long-term positive impact on the price.
“The announcement of a strategic reserve by the US will provide a big boost for Bitcoin. “As other countries also build reserves, the limited supply of Bitcoin will push prices up.” –Fred Thiel
Thiel stated that Bitcoin ETFs are growing rapidly and have reached an asset management volume exceeding that of gold ETFs. This points to greater adoption of Bitcoin by institutional investors.
Developments observed in the Bitcoin market show that investors’ interest in cryptocurrencies continues to increase. Limited supply and increased demand may contribute to Bitcoin’s price rising in the long run. Creating strategic reserves can create stability and confidence in the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
