Degen

Fred Thiel, CEO of Bitcoin mining company Marathon Digital, said in an interview with CNBC that Bitcoin could reach $150,000 to $200,000 by the end of the year.

He cited high demand from retail and institutional investors, saying that whenever there is a major sell-off, buyers come in and keep the price between $95,000 and $100,000.

Thiel cited factors driving the price increase as a more favorable regulatory environment and the acceptance of Bitcoin by private and government entities. He also cited a cap on the supply of Bitcoin and the possibility of governments creating strategic reserves of Bitcoin, which could further drive the price higher.