These 7 Crypto Miners Could Soar Over 100% as Bitcoin Moves Back Past $43,000 According to Top Stock Pickers
by George Glover, Business Insider
Excerpts taken from article:
Bitcoin’s price has fluctuated this year, but many bitcoin miners will still be profitable, according to Mike Venuto, manager of BLOK ETF.
Bitcoin’s price has fluctuated this year, falling from just under $48,000 at the start of 2022 to $35,000 by January 22, then rising back toward the $45,000 level. But many bitcoin miners will still be profitable as they assume a price of $30,000, according to one manager of a blockchain exchange-traded fund.
“Lots of our companies actually project their earnings based on bitcoin’s price being $30,000,” Mike Venuto, who manages Amplify’s BLOK ETF, told Insider in a recent interview. “Bitcoin-mining firms give us great exposure to bitcoin.”
“If we go into a crypto winter, we’re going to suffer, but we won’t suffer quite as much because we have a portfolio of companies with real earnings,” he added.