Bitcoin Could Reach $200,000, Says CleanSpark CEO Amid Market Optimism

In a recent interview with Bernstein analysts, CleanSpark CEO Zach Bradford predicted Bitcoin could peak near $200,000 within the next 18 months, suggesting a rapid price increase may occur before a period of stability.

He noted that Bitcoin’s recent flat movement might signal prolonged upward momentum, although external economic factors could influence this trend.

Bradford highlighted that Bitcoin typically rises post-halving and expects a significant price push after the U.S. presidential election in November, as the conclusion of election uncertainty may attract more investment. He also anticipates that the Federal Reserve will need to cut interest rates more aggressively in the coming year, benefiting Bitcoin.

Comparing AI-focused miners to pure Bitcoin operators, Bradford argued that Bitcoin miners are undervalued due to quicker returns on investments. CleanSpark has retained 97% of its mined Bitcoin since June 2023, totaling nearly 8,000 BTC, which it plans to sell in future bull markets for growth funding.

The company has successfully acquired smaller mining sites at competitive rates, allowing for effective scaling across multiple states. As mining technology evolves, Bradford expects a shift to immersion cooling systems to handle increased efficiency and heat generation. Bernstein rates CleanSpark as an outperformer with a price target of $30, while the stock closed at $10.13 recently.

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