Value investor Mike Alfred recently shared his insights on Bitcoin mining firms on Twitter, emphasizing their potential as an attractive investment opportunity in today’s market.
Alfred states these companies possess significant operating leverage as Bitcoin prices rise. While many conventional investors might view them as risky, he believes that mining firms represent one of the best risk-off sectors in the market.
Alfred points out that there are no definitive rules for determining value in equity markets, as it often depends on factors such as price. While many mining companies were overvalued in 2021, he argues that some are now undervalued in 2023, highlighting the market’s cyclical nature.
