Coinbase’s stock might go up to $310, according to Gautam Chhugani, an analyst at Bernstein.
Right now, the stock is at $182, so that would be a 68% increase. Chhugani thinks this could happen because the U.S. is starting to support crypto more, and Donald Trump’s administration wants to make the country a leader in blockchain innovation, according to Bernstein research.
Chhugani gave Coinbase an outperform rating, which is a way of saying he believes the stock will do better than most others. He also said Coinbase isn’t just a crypto exchange, but a “universal bank” for digital money.
“COIN is described as a crypto exchange, but it is actually what a universal Bank would look like in the world of blockchain-based financial services,” the research note explained.
This prediction comes shortly after Trump hosted the first White House Crypto Summit on March 7. Right after that, he signed an executive order to create a Bitcoin reserve using crypto that the government took from criminal cases. Many think this could be a big step toward making Bitcoin a part of the traditional financial system.
Joe Burnett, the head of market research at Unchained, sees this as a major shift. He said “The U.S. has taken its first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset,”
Coinbase is expected to benefit a lot from these changes. Since it already handles many crypto services, it could grow even more if the U.S. makes friendlier rules for crypto companies. The research note even called it the “Amazon of crypto financial services.”
Of course, these changes won’t happen overnight. Anastasija Plotnikova, CEO of Fideum, pointed out that setting the right rules takes time. “Issuing regulatory frameworks takes time,” she said, meaning the government still needs to figure out the details.
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