In a recent conversation with FOX Business, Fred Thiel, CEO of MARA Holdings, a Bitcoin (BTC) mining company, recommended a “set it and forget it” approach for individual investors seeking exposure to the top digital currency in the world.
Thiel mentions Bitcoin’s positive historical performance, with BTC currently trading in the mid-$90,000 range following a recent dip from its all-time high of $108,135. Despite the volatility of the crypto market, long-term holders of large amounts of BTC appear unperturbed by short-term price fluctuations.
Encouraging a long-term investment strategy, Thiel highlights that Bitcoin has closed the year at a lower price only three times in its 14-year history. He advises individuals to set aside a small amount each month in Bitcoin, allowing it to grow steadily over several years.
While acknowledging the high volatility of BTC as a high-risk asset, Thiel remains optimistic about its potential for growth, citing an average annual appreciation of 29% to 50%. He believes that institutional involvement through Bitcoin ETFs and favorable regulations could further support BTC’s growth.
Despite the cautious approach of some, including Japan’s Prime Minister, towards establishing a strategic Bitcoin reserve, companies like MARA Holdings and Hut 8 have been actively expanding their BTC holdings. Other companies, like Japan-based Metaplanet and Canada’s Rumble, have also joined the Bitcoin trend, with Bitcoin ETFs accumulating over 1 million BTC in less than a year since their launch.
As retail investor enthusiasm for Bitcoin grows, fueled by positive developments like ETF approvals and significant corporate Bitcoin purchases, the future outlook for BTC remains optimistic. At the time of writing, BTC is trading at $97,229, up 0.7% in the last 24 hours.
