Bitcoin exchange-traded fund (ETF) inflows have exceeded initial projections, bolstering confidence in a $150,000 price target for Bitcoin. Analysts at Bernstein expressed increased conviction in Bitcoin hitting $150,000 by mid-2025, citing the cryptocurrency’s recent surge to new record highs. They anticipate a significant breakout following the next halving event and recommend investing in Bitcoin mining stocks to capitalize on the anticipated rally.
Despite falling share prices in some mining stocks, such as CleanSpark (CLSK), Marathon Digital (MARA), and Riot Platforms (RIOT), Bernstein analysts believe institutional interest in Bitcoin equities will grow, leading to substantial gains for miners. They suggest that while traditional investors have been cautious about cryptocurrencies, the current market dynamics could prompt them to reconsider, potentially driving significant upside for mining stocks.
The analysts argue that rising Bitcoin prices and transaction fees will provide a buffer for miners, even in the face of increased production costs post-halving. They particularly highlight Riot Platforms (RIOT) and CleanSpark (CLSK) as promising investments, projecting robust gross margins for both companies.
Despite the underperformance of mining stocks compared to the Bitcoin rally, analysts believe that sentiment may shift as institutional interest in Bitcoin equities rises. This shift could lead to a reversal in the long Bitcoin, short miners trade, as investors recognize the potential profitability of mining stocks in the current market environment.
As Bitcoin continues to climb, with prices exceeding $72,000, and the broader cryptocurrency market showing positive momentum, investors may increasingly turn to Bitcoin mining stocks as a way to gain exposure to the ongoing rally.