Bitwise Bullish on Circle's Long-Term Value: Valuation Could Reach $75 Billion by 2030

Odaily News According to asset management firm Bitwise, Circle's valuation could reach $75 billion by 2030, suggesting the market overreacted following a significant drop in its stock price due to regulatory concerns.

Matt Hougan, Chief Investment Officer at Bitwise, stated that the relevant legislation does not alter the fundamental growth logic of the stablecoin market. Citing Citigroup predictions, he noted 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. Furthermore, institutions like William Blair believe that despite lingering uncertainty in regulatory language, the value of stablecoins in cross-border B2B payments is evident, and their long-term prospects remain largely unaffected. Some analysts also noted that if interest distribution is restricted, it could weaken competitors' ability to attract liquidity through high yields, which would benefit Circle. (The Block)