Crypto Miners and Executives Bullish on Bitcoin Despite Recent Volatility, Predicting Six-Figure Price Tags Within Years
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Big crypto mining companies like Marathon Digital have committed over $1.2 billion to buy more mining equipment before next year's Bitcoin halving event.
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The halving reduces the rate at which new bitcoins enter circulation, historically causing the bitcoin price to rise.
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Several crypto executives predict bitcoin could reach $100k or more by 2024 due to excitement around possible Bitcoin ETF approvals.
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Cathie Wood of ARK Invest sees bitcoin as a "flight to safety" asset and predicts it could hit $1.25 million by 2030.
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The bitcoin price recently rose above $44k but dropped during an Asian selloff, underscoring its continued volatility.