Public Keys: Circle and Coinbase Get GENIUS Bump, Bitcoin Treasuries on Shaky Ground?
The post Public Keys: Circle and Coinbase Get GENIUS Bump, Bitcoin Treasuries on Shaky Ground? appeared on BitcoinEthereumNews.com. In brief Circle’s stock skyrocketed following the Senate’s GENIUS Act vote, with shares climbing from $156 to $248 and analysts predicting the stablecoin market could reach $2 trillion. Bitcoin treasury companies like Semler Scientific are struggling with thin premiums over their BTC holdings, while newer entrants like Fold are raising capital for Bitcoin purchases. Tron is pursuing a Nasdaq listing through reverse merger with SRM Entertainment, while Bitdeer’s stock fell after a $330M capital raise and FalconX explores IPO options. Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week: Circle and Coinbase surge on stablecoin legislation movement, the Bitcoin treasury model raises concerns, and sources tell Decrypt that another crypto firm is eyeing an IPO this year. Stroke of GENIUS It makes sense that this week’s Senate vote in favor of the GENIUS Act was great for stablecoin issuers—but Circle has gone above and beyond. The company’s CRCL shares, which trade on the New York Stock Exchange, opened at $156.36 on Tuesday—the day of the Senate’s historic vote. Since then, the stock has skyrocketed, hitting a new peak just shy of $249 on Friday and finishing the day above $240. For those keeping track, that means the company’s share price peaked at eight times that of its $31 IPO. It’s been just over two weeks since CRCL started trading. Circle has been helped along by the fact that Wall Street analysts can’t help but rate the company highly. Jeff Cantwell, a senior analyst at Seaport Research Partners, initiated coverage on CRCL today with a buy rating and $235 price target. Circle made it to that target before the bell even rang, dipped, and then shot past it. “Circle’s strategy is to build the largest, most widely used stablecoin network in the world……
The post Public Keys: Circle and Coinbase Get GENIUS Bump, Bitcoin Treasuries on Shaky Ground? appeared on BitcoinEthereumNews.com.
In brief Circle’s stock skyrocketed following the Senate’s GENIUS Act vote, with shares climbing from $156 to $248 and analysts predicting the stablecoin market could reach $2 trillion. Bitcoin treasury companies like Semler Scientific are struggling with thin premiums over their BTC holdings, while newer entrants like Fold are raising capital for Bitcoin purchases. Tron is pursuing a Nasdaq listing through reverse merger with SRM Entertainment, while Bitdeer’s stock fell after a $330M capital raise and FalconX explores IPO options. Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week: Circle and Coinbase surge on stablecoin legislation movement, the Bitcoin treasury model raises concerns, and sources tell Decrypt that another crypto firm is eyeing an IPO this year. Stroke of GENIUS It makes sense that this week’s Senate vote in favor of the GENIUS Act was great for stablecoin issuers—but Circle has gone above and beyond. The company’s CRCL shares, which trade on the New York Stock Exchange, opened at $156.36 on Tuesday—the day of the Senate’s historic vote. Since then, the stock has skyrocketed, hitting a new peak just shy of $249 on Friday and finishing the day above $240. For those keeping track, that means the company’s share price peaked at eight times that of its $31 IPO. It’s been just over two weeks since CRCL started trading. Circle has been helped along by the fact that Wall Street analysts can’t help but rate the company highly. Jeff Cantwell, a senior analyst at Seaport Research Partners, initiated coverage on CRCL today with a buy rating and $235 price target. Circle made it to that target before the bell even rang, dipped, and then shot past it. “Circle’s strategy is to build the largest, most widely used stablecoin network in the world……
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