Bitcoin Fails to Become Payment Method, Stablecoins Take Lead
Bitcoin's potential as a payment method has been largely overlooked, according to Fred Thiel, CEO of MARA Holdings. The company holds more than 36,300 BTC and is shifting its focus towards artificial intelligence (AI) data centers.
Thiel believes that Bitcoin's volatility makes it unsuitable for everyday transactions, and instead recommends stablecoins as a better fit. He notes that businesses processing large volumes of transactions cannot afford even small price swings in the value of their payments asset.
MARA is selling its excess BTC to reduce debt, having already sold around 20,000 over the past year. Despite this, Thiel remains confident about Bitcoin's long-term value, stating it remains a 'great store of value' for those who want to keep assets outside centralized control.