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Citi Bullish on Circle: Valuation ’Not Stretched,’ Initiates Coverage With Buy Rating
Citi Bullish on Circle: Valuation ’Not Stretched,’ Initiates Coverage With Buy Rating
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Citi just slapped a buy rating on Circle—turns out even Wall Street's starting to believe stablecoins aren't just for crypto degens.
The pitch: Analysts argue Circle's valuation still has room to run, despite USDC's dominance in the $130B stablecoin market. No price targets disclosed—because why spoil the fun with math?
Between the lines: This is a big-league endorsement for the crypto infrastructure play. Meanwhile, traditional finance still can't decide if blockchain is 'the future' or 'a Ponzi scheme.'
Cynical take: Nothing gets bankers excited like a 'buy' rating on something they don't fully understand. At least this time it's not another overpriced SaaS startup.
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