Citi Bullish on Circle: Valuation ’Not Stretched,’ Initiates Coverage With Buy Rating

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2025-07-01 12:29:17

Circle's Valuation Not Stretched, Says Citi, Starting Coverage With Buy Rating

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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