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MARA CEO Sees Bitcoin's Use Cases Waning

Guavy AI Editorial Team
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BTC
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MARA CEO Fred Thiel stated that Bitcoin's use as a medium of exchange has 'seen its day go by', and he believes the commercial transaction layer for AI and everyday payments will be built on stablecoins, not Bitcoin.

Thiel explained that with thousands of transactions per second and thin margins, small price changes in Bitcoin distort the actual value received by each side. He noted that Bitcoin doesn't generate any yield, so it relies on more people wanting to own it than sell it.

MARA currently operates 1.1 gigawatts but has over 4 gigawatts of power after recent deals, including a 2-gigawatt campus in Texas. Thiel said the company could convert all existing mine sites to AI and still mine successfully at the new site.

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