MARA Holdings CEO: "Companies Accumulating Bitcoin (BTC) Will Eventually Face a Time to Sell"

According to The Block, a media outlet specializing in virtual assets (cryptocurrencies), on the 30th (local time), Fred Thiel, CEO of MARA Holdings—the public mining company holding the most Bitcoin (BTC)—warned that “not every company that accumulates Bitcoin can succeed.”

Fred Thiel explained, “If too many companies begin to buy Bitcoin, it could have adverse effects for investors, and this could put negative pressure on the price of Bitcoin,” adding, “As competition increases in any market, any advantages naturally disappear.”

He continued, “If the multiple of net asset value (mNAV), which is one of the indicators for assessing the soundness of listed Digital Asset Treasury (DAT) companies, falls to 1 or below, they will ultimately be forced to sell their Bitcoin holdings,” and noted that “recently, large holders (whales) are also starting to sell.”

He also stated, “If market demand ever wavers, there will be downward pressure on the price of Bitcoin,” projecting that “prices could fall by as much as 20–30%.”