CleanSpark CEO Zach Bradford said Monday that Bitcoin could peak at nearly $200,000 within the next 18 months.
In an interview with Bernstein, he said this bullish momentum is expected to begin after the U.S. presidential election.
“I believe Bitcoin could reach a peak of just under $200,000 within the next 18 months,” he said, adding that the upcoming US presidential election could play a key role in driving this price movement. He added that it is sexual. “It's more important that the election is over than who wins, and that brings certainty,” he said.
Bradford added that the post-election period typically brings stability, eases market tensions and provides an environment conducive to Bitcoin growth.
Bradford said the company's strategic focus is now on mining, supporting the idea that the opportunity for Bitcoin is immediate compared to other technologies such as AI.
He pointed out that Bitcoin mining infrastructure provides faster payback and faster activation, with profits starting in weeks instead of years.
“The best use of our capital is to get as much as possible.” [Bitcoin] Today as well as possible,” he said, adding that by consolidating mining space and securing efficient power contracts, CleanSpark aims to take advantage of the expected market surge.
Despite the uncertainty surrounding the US presidential election, Bradford said the election result could remove some of the uncertainty in the market and allow Bitcoin to gain momentum.
“I think we will start to see a significant increase in Bitcoin prices after the election and into January, which should result in significantly higher margins for well-positioned miners with efficient cost structures,” he said. ” he said.
Edited by Stacey Elliott.
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