Miners remain best equity proxy as bitcoin targets $150,000, Bernstein saysInvesting in bitcoin miners is the best equity proxy to bitcoin as the largest cryptocurrency by market cap heads toward $150,000, according to analysts at research and brokerage firm Bernstein. The analysts noted that miners almost always outperform bitcoin during bull markets and underperform during bear markets. “Investors have to take a through-cycle view and for us, we are still mid-way into the 2024-25 cycle and see every window of miner weakness as a buying opportunity,” they said.
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