(CTN News) – There could be compelling investment opportunities in the bitcoin (BTC) mining space as a result of the underperformance of listed digital asset companies, a report from crypto services provider Matrixport said on Thursday.
There is a possibility that bitcoin may climb to a new all-time high of $70,000 in the future, but investors will only be able to gain a return of 167% if they invest in at this point in time, according to the report.
A portfolio that includes publicly listed mining companies, including HIVE Digital (HIVE),
Bitfarms (BITF), and Iris Energy (IREN), could have a significantly higher value if investors purchased a diversified portfolio of publicly listed mining companies, like HIVE Digital (HIVE), Bitfarms (BITF), and Iris Energy (IREN).
According to the note, based on bitcoin’s current price, these stocks trade at a 33% discount, and offer a 52% upside potential, based on bitcoin’s current price.
“According to our regression analysis, the 10 stocks included could be valued 97% higher if bitcoin returns to its previous price of $30,000, or an impressive 572% higher if reaches a new all-time high and trades at $70,000,” wrote Markus Thielen, head of research at CMC Markets.
It would be best to invest in a variety of discounted bitcoin mining stocks or tokens with substantial growth potential for 2024 as a way of diversifying your portfolio, he wrote, pointing out that tokens,
As a result of their appearance in the market, carry a much higher level of risk than listed stocks.
In a new report released by Matrixport, the company maintains a positive outlook for bitcoin,
Despite signs that the Due to upcoming regulatory changes, the Securities and Exchange Commission (SEC) may delay the approval of an exchange traded fund (ETF) based on spot until January 2024, according to the report released by Matrixport.