Coinbase, a major US cryptocurrency exchange, is predicted to surpass Charles Schwab as the world’s most valuable brokerage firm. This bold prediction comes from Bitwise Asset Management, a crypto investment firm.
Coinbase’s Projected Rise
Bitwise forecasts Coinbase’s stock price (COIN) to reach $700 per share by 2025. This is more than double its current price, resulting in a market capitalization exceeding that of Charles Schwab. They believe several key factors will drive this growth.
Three Key Catalysts for Coinbase’s Success
Bitwise highlights three main reasons for their optimistic outlook:
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Booming Stablecoin Business: Coinbase’s USDC stablecoin business is experiencing significant growth, adding $162 million (31%) year-to-date.
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Ethereum Layer-2 Solution (Base): Coinbase’s Base blockchain is generating tens of millions of dollars in revenue each quarter.
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Staking and Custody Services: Revenue from staking and custody services has soared, increasing by 106% year-over-year to $589 million.
Bitcoin and Ethereum Predictions
Bitwise also offers predictions for Bitcoin (BTC) and Ethereum (ETH), forecasting prices of $200,000 and $7,000 respectively by next year.
Disclaimer
This information is for general knowledge and shouldn’t be considered investment advice. Always conduct your own research before making any investment decisions, especially in the volatile cryptocurrency market. Any investment carries risk, and you could lose money.
