Bitwise: Circle's valuation may reach 75 billion dollars by 2030
According to The Block, after Circle's stock price plummeted due to regulatory concerns, the asset management firm Bitwise stated that its valuation could reach $75 billion by 2030, believing that the market reaction is excessive.
Bitwise Chief Investment Officer Matt Hougan stated that the relevant legislation has not changed the fundamental growth logic of the stablecoin market, citing Citigroup's prediction that the stablecoin market size could reach $1.9 trillion by 2030. He pointed out that interest income is not the core driver of stablecoin growth.
In addition, institutions such as William Blair believe that although there is still uncertainty in regulatory statements, the value of stablecoins in cross-border B2B payments is evident, and the long-term outlook has not been substantively affected. Some analysts also pointed out that if profit distribution is restricted, it may weaken competitors' ability to attract liquidity through high yields, which would be beneficial for Circle.
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