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In summary
- CleanSpark CEO Zach Bradford predicted that Bitcoin could reach almost $200,000 in the next 18 months.
- Bradford mentioned that this bullish momentum could begin after the US presidential election as the conclusion of the election provides certainty to the market.
- CleanSpark focuses on Bitcoin Mining, highlighting that it offers faster return on investment and faster energization compared to other technologies.
CleanSpark CEO Zach Bradford said on Monday that Bitcoin could reach almost $200,000 in the next 18 months.
In an interview with Bernstein, he mentioned that he expects this bullish momentum to begin after the US presidential election.
“I think we could see Bitcoin hit almost $200,000, at some point in the next 18 months,” he said, adding that the upcoming US presidential election could play a significant role in driving this price movement. “It’s less about who wins and more about the election being over, which provides certainty,” he said.
Bradford added that the post-election period typically brings stability, reducing market jitters and providing a conducive environment for Bitcoin’s growth.
Bradford said the company’s strategic focus is currently on mining, supporting its belief that the opportunity in Bitcoin is immediate compared to other technologies, such as AI.
He noted that Bitcoin mining infrastructure offers a faster return on investment and faster ramp-up, with revenue starting in weeks rather than years.
“The best use of our capital is to get as much (Bitcoin) today as we can,” he said, adding that by consolidating the mining space and securing energy-efficient contracts, CleanSpark aims to capitalize on the anticipated market surge. .
Despite the uncertainty surrounding the US presidential election, Bradford said the conclusion of the election could remove a layer of anxiety in the market, allowing Bitcoin to gain traction.
“I believe we will begin to see significant momentum in Bitcoin prices post-election through January, which should result in significant margin expansion for well-placed miners with efficient cost structures,” he said.
Edited by Stacy Elliott.
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