Following their hosting of an investment conference in New York, analysts at H.C. Wainwright stated that institutional interest in Bitcoin mining stocks is on the rise.
Leading figures in the industry, including Michael Saylor of MicroStrategy, and miners of Bitcoin (BTC) who are publicly traded came together for the HCW Annual Global Investment Conference. Mike Colonnese, Managing Director and Crypto Analyst at the firm, stated that the primary observation was a rise in institutional participation in contrast to prior years.
In a note shared with crypto.news, the analysts said that investor interest in Bitcoin mining stocks and equities has increased since spot Bitcoin ETFs were approved in January and there is a growing need for AI-driven power infrastructure.
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Bitcoin mining stocks
Industry insiders believe the mining sector is undervalued, offering potential investment opportunities ahead of the next bull market, despite a 40% decline in mining stocks since mid-July, compared to a 10% decline in Bitcoin.
The event’s main themes included significant capacity increases by miners, initiatives to modernize fleets with more effective ASIC equipment, and a comeback of miners holding Bitcoin assets. Furthermore, by utilizing their power infrastructure, some miners are branching out into high-performance computing and artificial intelligence.
Bitcoin price targets
The event’s panelists were upbeat about the future of Bitcoin, projecting prices to range from $100,000 to $250,000 in the upcoming cycle, with an average estimate of $144,000 by the end of 2025.
Chief Investment Officer at MN Consultancy Michaël van de Poppe stated on September 12 in an X post that he would not be shocked if Bitcoin reached $300,000–$600,000 during this market cycle.
Saylor’s business, MicroStrategy, revealed on September 13 that it was carrying out its plan to buy Bitcoin, having bought 18,300 BTC for $1.11 billion between August 6 and September 12. As a result, the company now owns 244,800 BTC in total, having bought them for an average of $38,585 apiece.