Bitcoin Loses Payment Ground to Stablecoins, Says MARA CEO

MARA Holdings CEO Fred Thiel believes Bitcoin has missed its chance to become a widely accepted payment method. Speaking in an interview, Thiel noted that stablecoins are now better suited for everyday transactions.

According to Thiel, businesses processing thousands of transactions every second cannot afford price swings, even if they are small. He stated that 'Two parties transacting want to know the value of the medium of exchange.'

MARA is shifting its focus beyond Bitcoin mining, directing more power capacity toward artificial intelligence (AI) data centers. The company expects AI applications to rely mainly on stablecoins instead of Bitcoin for payments.