In hopes we’ll soon see a BTC ETF, Bitcoin is now up to $37,300, and could push aggressively higher. Not only is that great news for cryptocurrencies, it’s also great news for companies that own a significant number of BTC, such as mining stocks like Marathon Digital (MARA).
Better, one analyst says BTC could rally to more than $265,000 on BTC ETF approval.
In fact, “CoinShares head of research James Butterfill shares his calculations of a potential price impact if a spot BTC exchange-traded fund (ETF) is approved by the U.S. Securities and Exchange Commission (SEC),” reports DailyHODL.com. “He says that the ETF financial product would attract a large influx of institutional money, some portion of an estimated $48.3 trillion addressable assets in the United States.”
If that were to happen, mining stocks like MARA could explode to higher highs.