According to BCA Research analyst Dhaval Joshuai, Bitcoin has been celebrating the return of Donald Trump as president in recent weeks. The momentum is not likely to fade anytime soon.
Joshi believes that BTC will eventually be worth over $200,000.
He views Bitcoin as an asset that is not confiscatable and accounts for less than 10% of the market for such assets. In a recent research report, he said that bitcoin’s price would rise as the market share of bitcoins increased and the supply reached its maximum.
Bitcoin mining stocks are a great way to invest in the Bitcoin market and take advantage of its expected strength. They even outperformed BTC during bull markets before 2024.
BCA Research predicts that Bitcoin will reach $200,000 in the next few years.
CleanSpark Inc. (NASDAQ: CLSK).
CleanSpark is an all-in-one crypto miner which stands to gain from a continued rise in Bitcoin.
The Henderson, Nevada-based company has more than doubled their revenue to $104 millions. This momentum will only get stronger as BTC continues to grow in 2025.
Bitcoin price increases are typically a positive for crypto mining stocks as they tend to increase their profitability. Bitcoin miners receive Bitcoin rewards for verifying transactions. When the BTC price rises, their mining reward is worth more.
CLSK is in a good position to benefit from the strength of Bitcoin, as it is currently down about 45% against its year-to date high in late March.
CleanSpark does not pay a dividend.
Riot Platforms Inc (NASDAQ: RIOT)
Riot Platforms disappointed its shareholders in this year, but that could all change as Bitcoin continues to climb towards the $200,000.
It is the largest Bitcoin miner in North America in terms of capacity.
“Riot is positioned among the top three mining companies with its 1 GW+ of energy assets. Investors are interested in miners because of their AI and energy options, but now is the time to purchase bitcoin miners to participate in the bitcoin trade,” Bernstein’s Gautam Chhugani said recently.
Donald Trump has already committed that all Bitcoin will be mined in the US. Riot stock may benefit from the 47 th President’s promise.
In its latest reported quarter, Riot Platforms’ results were 7.5% lower than the experts’ expectations.
The stock is still worth buying as the management expects revenues to grow by an average of 51% over the next three-year period.
Riot Platforms pays no dividends in writing, just like CleanSpark Inc.
This post Top 2 crypto-mining stocks to buy as analysts forecast Bitcoin hitting $200,000 could be modified as new information unfolds
This site is for entertainment only. Click here to read more
