The stock price of Coinbase has garnered a positive outlook from a Bernstein analyst, thanks to the increasing clarity surrounding cryptocurrency regulations in the largest economy worldwide.
Gautam Chhugani, an analyst at Bernstein, has initiated coverage on Coinbase’s Nasdaq-listed stock (COIN) with an outperform rating and set a price target exceeding $310.
The analyst foresees a rise in mainstream cryptocurrency adoption, spurred by the Trump administration’s aim to prioritize crypto policy and position the US as a global leader in blockchain innovation, as noted in a Bernstein research document.
If Coinbase’s shares succeed in climbing to $310, it would represent a more than 64% increase from the present price of $188, based on Google Finance data.
COIN/USD, all-time chart.
This optimistic price prediction follows the recent White House Crypto Summit hosted by Trump on March 7, shortly before he signed an executive order laying out a plan to establish a Bitcoin reserve from cryptocurrency seized in government criminal proceedings.
Coinbase stock may increase due to enhanced regulatory clarity in US crypto landscape
Coinbase is poised to gain from the growing integration of cryptocurrencies into the US financial mainstream, thanks to more favorable regulations. The research note highlights the firm’s comprehensive platform for a range of crypto-related activities, stating:
“While COIN is primarily viewed as a crypto exchange, it essentially embodies what a universal bank would look like in the realm of blockchain-driven financial services.”
“COIN provides a marketplace, brokerage services, an institutional prime desk, stablecoin banking, crypto payment solutions, custodial banking services, software, and blockchain ecosystem solutions—essentially creating a full-stack ‘Amazon’ of crypto financial services,” the report elaborated.
Analysts believe that crypto regulations are trending positively, with some experts viewing the US Bitcoin reserve initiative as a significant step towards Bitcoin’s assimilation into the global financial framework.
“The US has made its first tangible move toward embedding Bitcoin into the core of global finance, recognizing its position as a foundational asset for a more stable monetary system,” remarked Joe Burnett, head of market research at Unchained.
While Trump has previously expressed his commitment to advancing crypto innovation in the US, establishing regulatory frameworks will take time, and setting the “right regulatory tone” will be vital for the administration, according to Anastasija Plotnikova, co-founder and CEO of a regulatory and blockchain infrastructure firm focused on institutional clients.
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