Barclays Analyst Reveals His Final Opinion On Bitcoin (BTC): “In The Long Term…”

barclays, Bitcoin (BTC) He explained that he continues to think positively about its long-term sustainability and views Bitcoin mining company Core Scientific (CORZ) as “a best-in-class, strong company in the crypto ecosystem.”

Barclays Analyst Reveals Long-Term Positive Thinking for Bitcoin

Cryptocurrency The winter has been a tough one for miners, who have felt their profit margins shrinking as the BTC price has dropped more than 50% this year, energy prices soaring, and capital dwindling.

Barclays analyst Ramsey El-Assal began reviewing Core Scientific with an Overweight rating based on his long-term bullish view of BTC.

Shares of BTC mining company Core Scientific were also on the rise as the price of Bitcoin recently rose above $20,000 again.

Compass Point supported this positive view of the company in a report it published last week. In a note to customers, he stated that Core Scientific has the scale and experience to weather the downturn in the BTC market.

Other reasons for El-Assal’s optimistic view include: “The flexibility and geographic diversity afforded by Core Scientific’s hosting and independent mining revenue streams.”

The company produced 1,334 Bitcoin (BTC) at the end of August, an increase of 9% compared to the previous month.

Due to the decrease in crypto money prices since May, many companies that did not sell their BTCs before gave up on these practices and sold BTC to cover their expenses.

*Not investment advice.

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