Stablecoins Overtake Bitcoin as Preferred Payment Method, Says MARA CEO
MARA Holdings CEO Fred Thiel believes that Bitcoin has missed its chance to become a widely accepted payment method. In an interview, Thiel stated that stablecoins are now better suited for everyday transactions due to their stable value, which is essential for businesses processing large numbers of transactions.
Thiel's company, MARA Holdings, holds over 36,300 BTC and has been shifting its focus towards artificial intelligence (AI) data centers. The CEO noted that AI generates much higher returns than Bitcoin mining, prompting the sale of around 20,000 BTC to reduce nearly $1 billion in convertible debt.
Despite this shift away from Bitcoin, Thiel remains confident about its long-term value, calling it a 'great store of value' for those who want to keep assets outside centralized control. He emphasized that businesses need a payment asset with stable value, and Bitcoin's price volatility makes it unsuitable for everyday transactions.