Bernstein praised the crypto company, raising expectations: "It rose to $510"

While Bitcoin continues its strong stance above 100 thousand dollars, asset management companies are also expressing more opinions about crypto companies. Recently, the company Bernstein could not stop praising Coinbase, the largest cryptocurrency exchange in the US.

"There will be no other example..."

In the harshest days of the bear market in 2022, Coinbase, which fell to around 30 dollars but later rose, is currently trading at around 360 dollars. Bernstein pointed to a price target of 510 dollars for the stock of the company it praised in many respects:

"Although the general consensus is downward, Coinbase is acting like the universal bank of the crypto world. It connects retail and institutional investors in a way never seen before, as well as its on-chain infrastructure."

"Very strong compared to its competitors..."

Bernstein stated that the Genius Act, a stablecoin law expected to pass through Congress this summer in the US, will also benefit Coinbase, adding that "This law and the upcoming CLARITY Act will benefit Coinbase. Coinbase is the only crypto company in the S&P 500. Despite competition, it still remains very strong."

As is known, 15% of Coinbase's total activities, which also has a partnership with Circle behind USDC, are made up of stablecoins. The exchange also provides custody services to 8 out of 11 Bitcoin ETF issuers.

Recently, Coinbase also acquired Deribit, the world's largest derivatives exchange, for $2.9 billion.

Published: June 25, 2025 16:56 Last Updated: June 25, 2025 16:57