Bitcoin Miners That Are Still Drawing Electricity from Grid-Attached Power Sources Will Struggle After the Next Halving Event

Bitcoin miners that are still drawing electricity from grid-attached power sources will struggle after the next halving event in 2028, MARA Holdings (MARA) said in a shareholder letter.

MicroStrategy (NASDAQ:MCR) CEO Michael Saylor says that institutions are now entering the bitcoin market.

What Happened: Saylor, a known bitcoin bull, took to X, formerly Twitter, to share his thoughts on the latest developments in the bitcoin space.

"The email volume in my inbox is now about 50% institutions entering bitcoin and 50% people asking how to get out of bitcoin. It's an interesting time to be investing in bitcoin!" Saylor stated.

Institutions have increasingly shown interest in bitcoin as a hedge against inflation and a diversifier in their portfolios. Several large corporations, including Saylor’s own MicroStrategy, have invested heavily in bitcoin in recent years.

Why It's Important: Saylor's observations come amid heightened volatility in the crypto sector. Bitcoin has faced significant price swings in 2024, and smaller mining firms have struggled to remain profitable following the bitcoin halving event in March.

Despite the challenges, Saylor remains optimistic about the long-term prospects of bitcoin. He has consistently highlighted the advantages of bitcoin as a decentralized and scarce asset in a rapidly changing technological landscape.

"AI is here, but that doesn’t mean bitcoin miners are finished. We’re pivoting to build out the next layer of infrastructure: data centers. They’re the base layer of infrastructure for any computing needs, from bitcoin mining to AI inference," Saylor added.

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MCR Price Action: MicroStrategy shares closed Wednesday up 0.47% at $131.37. The stock is up 107.08% year-to-date.