The post Bitcoin Traders Have ‘Not Priced In’ Possible Trump Victory, Says Bernstein appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports Bernstein analysts are closely monitoring seven key crypto stocks as former President Donald Trump prepares to address the Bitcoin Nashville conference on July 27. The research firm outlined its bullish outlook on the crypto sector in a note on Monday, forecasting significant upside potential for select companies amid an improving regulatory environment. The Bernstein team—led by Gautam Chhugani—wrote that the market has not priced in a positive shift in the crypto regulatory environment if Trump wins reelection in November. Given that, the firm said it sees significant headroom from institutional investors allocating to crypto and crypto stocks. Bitcoin markets have been buoyant again, with BTC up 13% last week, back above $67,000. Crypto stocks were even stronger, up 22% last week, the firm writes. The report highlights seven stocks across three categories: Bitcoin mining consolidators (Riot Platforms, CleanSpark, Marathon Digital Holdings), hybrid Bitcoin/AI data centers (Core Scientific, Iris Energy), and crypto broking/exchange platform (Robinhood), as well as a Bitcoin corporate treasury (MicroStrategy). For BTC mining consolidators, the analysts see significant growth potential. Source: Bernstein “We view large Bitcoin mining consolidators as high-beta Bitcoin proxies, with price action being driven by underlying Bitcoin price and potential cashflows from operating leverage,” the report stated. Specifically for Riot Platforms, the analysts noted, “RIOT holds more than $0.6 billion [worth of] Bitcoin on its balance sheet, and has raised $500 million in equity capital to build its 1Gw Corsicana site in Texas as the world’s largest Bitcoin facility.” Highlighting CleanSpark’s rapid expansion, the report states the company has grown its hash rate aggressively from 10EH/s to 20.4EH/s YTD, with a…

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Filed under: News - @ July 23, 2024 7:12 am