Summary
- Bernstein has set Circle’s target stock price at $230.
- The report states that Circle holds a leading position in the dollar stablecoin market based on regulatory advantages and distribution partnerships.
- Stablecoin supply is expected to reach $4 trillion within 10 years, with Circle projected to secure a 30% market share.
An analysis has set the target price for Circle, the issuer of the US dollar-backed stablecoin USDC, at $230.
According to The Block on the 30th (local time), Bernstein stated in a memo, "Circle has established a leading dollar stablecoin network based on regulatory advantages and distribution partnerships," and added, "Users of internet financial systems built over the next 10 years must hold it." Furthermore, they noted, "The target price for Circle is $230."
Particular emphasis was placed on Circle's growth. The report said, "USDC is expected to become the largest regulated stablecoin due to the impact of the US stablecoin bill, the GENIUS Act," and forecasted that "it could be widely used not only on virtual asset (cryptocurrency) exchanges but also on internet platforms."
Additionally, they said, "The supply of stablecoins is expected to grow from the current $244 billion to $4 trillion over the next 10 years," and "Circle could secure a 30% market share of this." Currently, USDC accounts for about 25% of the stablecoin market.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
