Summary
- Brian Armstrong, CEO of Coinbase, announced that he purchases Bitcoin every week and expects the price of Bitcoin to rise.
- Coinbase stock hit an all-time high, with analysis stating that it rose more than 40% following the passage of the GENIUS Act.
- While some on Wall Street believe Coinbase stock is overvalued, firms like Bernstein raised their target price for Coinbase to $510.
Brian Armstrong, CEO of Coinbase, has expressed strong confidence in Bitcoin (BTC).
On the 26th (local time), CEO Armstrong stated on his X account, "I buy Bitcoin every week. Bitcoin will go up."
Amid this stance, Coinbase stock hit an all-time high of $369.21 on Nasdaq that day. Bloomberg analyzed, "Coinbase shares have risen more than 40% as the stablecoin regulation bill 'GENIUS Act' passed the Senate."
However, on Wall Street, there are also opinions that Coinbase stock may be somewhat overvalued, as the average target stock price among major securities firms remains at around $287 per share. Meanwhile, global investment bank Bernstein raised Coinbase's target price to $510, suggesting further upside potential.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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