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Barclays Optimistic About Bitcoin, Sees Bitcoin Miner As "Best-Class, Leveraged Play"

Katie Lin

Summary: British bank Barclays says it is optimistic about the viability of bitcoin and views bitcoin miner Core Scientific as a “best-class, leveraged play on the crypto ecosystem.” The crypto winter has been making it hard for miners, with bitcoin prices dipping more than 50% this year and power prices rising and capital decreasing. Despite this, ...

British bank Barclays says it is optimistic about the viability of bitcoin and views bitcoin miner Core Scientific as a “best-class, leveraged play on the crypto ecosystem.”

The crypto winter has been making it hard for miners, with bitcoin prices dipping more than 50% this year and power prices rising and capital decreasing. Despite this, Barclays sees potential for opportunities for Core.

Barclays gave Core an overweight rating and a $3 price target.

Author: Katie Lin

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