Fred Thiel, CEO of MARA, said in a July 23 interview with Natalie Brunell that Bitcoin’s opportunity to serve as a payment method and medium of exchange has already passed. He argued that in commercial settings where businesses need to process thousands of transactions per second and operate on low margins per transaction, even small moves in Bitcoin’s price can change the value merchants actually receive. On that basis, Thiel said commercial crypto use cases in areas such as AI are more likely to be built around stablecoins. At the same time, he did not dismiss Bitcoin’s role altogether. Thiel said the asset still fits as a store of value that operates outside central control and can be transferred quickly, drawing a distinction between Bitcoin’s utility in payments and its use as a vehicle for holding and moving value.
Fred Thiel, CEO of MARA, said in a July 23 interview with Natalie Brunell that Bitcoin has already missed its opportunity to become a payment tool and medium of exchange.
Thiel said that in business settings that require thousands of transactions per second and generate low profit on each transaction, even slight swings in Bitcoin’s price can change the value actually received. For that reason, he said commercial crypto applications in fields such as AI are ultimately more likely to be carried out through stablecoins.
He added that Bitcoin still works as a store of value outside central control and as an asset that can be transferred quickly.
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