Press Release

  • Grand News Network
  • November 6, 2023

This Analyst Sees Huge Upside For Bitcoin Depot, Says Strong Fundamentals & Thriving Bitcoin Market Will Get It There

H.C. Wainwright & Co. analyst Mike Colonnese initiated coverage of Bitcoin Depot Inc (NASDAQ: BTM) with a Buy rating and a price target of $6.

The analyst says that BTM has a proven track record of delivering strong revenue growth and profitability amid weak market conditions and notes that two-thirds of its customers are using its BTMs to acquire BTC for remittances or online purchases. 

Colonnese writes that BTM is poised to benefit from the rapid adoption of crypto, with the 

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