Bernstein recommends buying mining stocks to gain bitcoin exposure. Riot Platforms and CleanSpark are the broker’s top picks. Positive ETF flows provide an additional tailwind for bitcoin.
Bitcoin (BTC) mining companies appear to have bottomed out following the approval of spot bitcoin exchange-traded funds (ETFs) in the U.S. last month, and broker Bernstein advises buying its preferred stocks in the sector ahead of the next reward halving, it said in a research report Thursday.
The world’s largest cryptocurrency has performed well ahead of the halving, in which the reward miners earn for their efforts is slashed by 50%, and will probably sustain