- Bit Digital's Strategic Shift: Transition to Ethereum with over 100K tokens valued at $301.8 million.
- Impressive Upside Potential: Analysts foresee a 71.67% increase in stock value.
- Expert Recommendations: Rated as "Outperform" based on brokerage consensus.
Bit Digital (BTBT, Financial) has recently realigned its treasury strategy, pivoting its focus toward Ethereum (ETH). The company has accumulated 100.6K Ethereum tokens, which are currently valued at $301.8 million. This strategic realignment was primarily funded by public equity offerings and the divestment of its Bitcoin holdings. The decision underscores Bit Digital's confidence in Ethereum's potential to revolutionize digital finance.
Wall Street Analysts Forecast
Wall Street analysts have set one-year price targets for Bit Digital Inc (BTBT, Financial), with an average target price of $5.72. The forecasted high sits at $7.00, while the low estimate is $4.80. This average target suggests a significant upside of 71.67% from the current trading price of $3.33. For more comprehensive estimate data, visit the Bit Digital Inc (BTBT) Forecast page.
Brokerage firms also reflect a positive outlook for Bit Digital Inc (BTBT, Financial), assigning an average brokerage recommendation rating of 2.0, which denotes an "Outperform" stance. On this rating scale, 1 indicates a Strong Buy, while 5 represents a Sell.
According to estimates from GuruFocus, Bit Digital Inc (BTBT, Financial) is projected to reach a GF Value of $3.45 within a year. This suggests a potential upside of 3.6% from its current price of $3.33. The GF Value represents GuruFocus' calculation of the stock's fair trading value, derived through the examination of historical trading multiples, business growth, and future performance estimates. For more detailed insights, visit the Bit Digital Inc (BTBT) Summary page.
