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Seeking Alpha 2021-11-18 16:31:50

Marathon Digital CEO believes crypto regulation 'levels the playing field'

Marathon Digital CEO believes crypto regulation 'levels the playing field'

Marathon Digital (NASDAQ:MARA) CEO Fred Thiel, who first got involved in the crypto space in 2016, believes the decentralized Bitcoin (BTC-USD) blockchain is slowly evolving as a store of value, he said at Oppenheimer's Blockchain & Digital Assets Summit. On the other hand, the Ethereum (ETH-USD) network is becoming highly centralized as "those that hold the most ETH have the most say." In the meantime, shares of MARA drop more than 40% to just below $50 per share from its all-time high of $83.45 on Nov. 9 of this year, now down 4% amid Bitcoin's (BTC-USD) weakness. Still, "we think Bitcoin is going to continue appreciating in value." In addition, Thiel says other networks like Solana (SOL-USD) and Cardano (ADA-USD) compete with the Ether (ETH-USD) network, though "their won't be a single winner." On crypto regulation, he thinks the U.S. will likely let the crypto space evolve under a regulatory framework, "leveling the playing field,"

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