Bitcoin Near Mining Cost: Why T. Rowe Price Sees a Buying Opportunity

At the Exchange conference in Las Vegas, Dominic Rizzo, global technology portfolio manager at T. Rowe Price—a firm managing over $1 trillion in assets—shared a bullish view on bitcoin. Speaking to an audience of 2,000 investment advisors and asset managers, Rizzo suggested that now is an attractive time to gain exposure to bitcoin, likening its price dynamics to that of traditional commodities.

“Bitcoin has been trading close to its average cost of mining,” Rizzo noted. “If you treat it like a commodity, historically, that’s when exposure tends to be most rewarding.” In commodity investing, when the spot price nears production costs, it often indicates limited downside risk. This floor effect can present a contrarian opportunity, as negative sentiment is likely priced in.

According to financial data platform MacroMicro, the average bitcoin mining cost is currently around $84,770, while the spot price is just above $87,000—signaling a potential entry point for long-term investors.

Rizzo also highlighted the growing convergence of blockchain technology, digital payments, and artificial intelligence. As the world rapidly shifts from cash to digital transactions, he sees blockchain playing a central role in the evolving fintech landscape. “Digital payments are key to moving money more efficiently through software-driven solutions,” he said.

He recommended investors consider exposure to blockchain innovation through companies like Coinbase (COIN), Robinhood (HOOD), or crypto mining firms benefiting from AI integration.

For those looking to invest in the next phase of tech and financial disruption, bitcoin and blockchain-focused assets could offer timely opportunities in a market increasingly shaped by digital transformation.