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Benzinga
Benzinga
Business
Aniket Verma

MARA CEO Fred Thiel Says When 'Lots Of Companies' Start Buying Bitcoin, The Advantage Disappears: 'Kudos To Saylor...But They Can't All Be Successful'

Thiel Saylor MARA Bitcoin Strategy MARA Holdings Inc MSTR
July,23,,2022,,Brazil.,In,This,Photo,Illustration,The,Marathon

Fred Thiel, CEO of MARA Holdings Inc. (NASDAQ:MARA), expressed reservations Tuesday about the future success of the Bitcoin (CRYPTO: BTC) treasury play popularized by Michael Saylor’s Strategy Inc. (NASDAQ:MSTR).

What Happened: During the company’s second-quarter earnings call, Thiel praised Saylor and his team for pioneering the Bitcoin treasury strategy, but voiced concerns about the risk of market saturation.

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