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Institutional interest in Bitcoin mining stocks is on the rise, according to analysts at H.C. Wainwright following an investment conference in New York. The HCW Annual Global Investment Conference brought together major publicly traded Bitcoin miners and industry leaders, including MicroStrategy’s Michael Saylor. Mike Colonnese, Managing Director and Crypto Analyst at H.C. Wainwright, noted a marked increase in institutional involvement compared to previous years.
The analysts pointed out that the approval of spot Bitcoin ETFs in January and growing demand for AI-driven power infrastructure have significantly increased investor interest in Bitcoin mining equities and stocks.
Despite a 40% decline in mining stocks since mid-July, compared to Bitcoin’s 10% drop, industry insiders believe the sector is undervalued, offering potential investment opportunities ahead of the next bull market.
Key Themes from the Event
Several key themes emerged from the conference, including:
- Major miners’ capacity expansions
- Efforts to upgrade fleets with more efficient ASIC machines
- A resurgence in miners holding their Bitcoin assets
- Diversification into AI and high-performance computing, leveraging existing power infrastructure
Bitcoin Price Targets
Panelists at the event expressed optimism about Bitcoin’s future, predicting prices ranging from $100,000 to $250,000 in the next cycle, with an average forecast of $144,000 by the end of 2025.
On Sept. 12, Michaël van de Poppe, Chief Investment Officer at MN Consultancy, mentioned in a post that he wouldn’t be surprised if Bitcoin reached between $300,000 and $600,000 in this market cycle.
On Sept. 13, Saylor’s company MicroStrategy announced that it continued its Bitcoin acquisition strategy, purchasing 18,300 BTC for $1.11 billion between Aug. 6 and Sept. 12. This acquisition brought the company’s total Bitcoin holdings to 244,800 BTC, acquired at an average price of $38,585 per coin.
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