Odaily Planet Daily News Fred Thiel, CEO of Bitcoin mining company Marathon Digital Holdings, shared his views on Bitcoin halving and the future of miners in an interview:
1. The Bitcoin halving bull run is just a fantasy and he doesn’t think it will happen. He believes that the price of Bitcoin has little to do with the halving event, and more to do with transaction prices and liquidity cycles.
2. Thiel mentioned that they hold approximately 39,000 Bitcoins and $1 million in cash. If the price does not improve significantly after the halving, they will continue to sell the Bitcoins they obtained until 2026.
3. In the next 10 years, Bitcoin will experience two rounds of halvings, and mining revenue will drop to less than 2 Bitcoins per block, but he hopes that Bitcoin can attract more users, thereby increasing transaction fee income. .
4. Without sufficient incentives, miners may leave the Bitcoin network and look for more profitable opportunities, such as mining on other blockchains such as Ethereum.
5. In order to increase the profits of miners and attract more miners to join the network, Bitcoin needs to be expanded to increase the security of the network.