{"id":1298,"date":"2022-10-04T21:19:25","date_gmt":"2022-10-04T21:19:25","guid":{"rendered":"https:\/\/cryptoteambuild.com\/blog\/barclays-remains-positive-on-bitcoin-sees-miner-core-scientific-as-best-in-class-leverage-play\/"},"modified":"2022-10-04T21:19:25","modified_gmt":"2022-10-04T21:19:25","slug":"barclays-remains-positive-on-bitcoin-sees-miner-core-scientific-as-best-in-class-leverage-play","status":"publish","type":"post","link":"https:\/\/cryptoteambuild.com\/blog\/barclays-remains-positive-on-bitcoin-sees-miner-core-scientific-as-best-in-class-leverage-play\/","title":{"rendered":"Barclays Remains Positive on Bitcoin, Sees Miner Core Scientific as \u2018Best-In-Class Leverage Play\u2019"},"content":{"rendered":"
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Will Canny is CoinDesk’s finance reporter.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Barclays (BCS) says it remains positive about the long-term viability of bitcoin (BTC), and views bitcoin miner Core Scientific (CORZ) as a “best-in-class, leveraged play on the crypto ecosystem.”<\/p>\n<\/div>\n

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The crypto winter has clearly been rough<\/a> for miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. Despite this difficult macro backdrop, Barclays sees compelling risk\/reward for Core at current levels.<\/p>\n<\/div>\n

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The shares of crypto hosting and mining company rose about 9.5% in premarket trading on Tuesday, amid a rally in the bitcoin price on the hope that financial stability risks and signs of economic slowdown will force<\/a> the U.S. Federal Reserve to pivot away from aggressive liquidity withdrawal measures.<\/p>\n<\/div>\n

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Barclays initiated coverage of Core with an overweight rating and a $3 price target. The stock had nine buy ratings and an average 12-month price target of $5.97, according to FactSet data.<\/p>\n<\/div>\n

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Compass Point echoed this positive sentiment about the company in a report last week. It said in a note to clients that Core has the scale and experience to make it through the bitcoin market downturn.<\/p>\n<\/div>\n<\/div>\n

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Will Canny is CoinDesk’s finance reporter.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n

Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Will Canny is CoinDesk’s finance reporter. Barclays (BCS) says it remains positive about the long-term viability of bitcoin (BTC), and views bitcoin miner Core Scientific (CORZ) as a “best-in-class, leveraged play on the crypto ecosystem.” The crypto winter has clearly been rough for miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. Despite this difficult macro backdrop, Barclays sees compelling risk\/reward for Core at current levels. The shares of crypto hosting and mining company rose about 9.5% in premarket trading on Tuesday, amid a rally […]<\/p>\n","protected":false},"author":1,"featured_media":1299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[525,336],"_links":{"self":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1298"}],"collection":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/comments?post=1298"}],"version-history":[{"count":0,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media\/1299"}],"wp:attachment":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media?parent=1298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/categories?post=1298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/tags?post=1298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}