Matthew Seagull

Bitcoin is likely to retest the 58K-60K level and bottom around October 2026, then rally higher over the next year. The four-year cycle and election uncertainty support this view, and he has high conviction that Bitcoin will be significantly higher in 12 months.

Bitcoin miners have a valuation arbitrage compared to data center REITs on forward EBITDA, as they can pivot to high-performance computing and data center operations, potentially spinning off real estate. Their earnings are growing and valuations are cheap, making them undervalued relative to the opportunity.