President Donald Trump's commitment to positioning the United States as a leader in the cryptocurrency sector is paving the way for closer integration between digital currencies and the banking industry. As a result, several key players in the crypto space are taking steps to align more closely with traditional financial systems.
According to sources, major cryptocurrency companies such as Circle and BitGo are preparing to apply for bank charters or licenses. This strategic move is reportedly part of a broader initiative to enhance credibility and acceptance within the conventional banking framework.
Additionally, Coinbase (COIN, Financial), a prominent name in the cryptocurrency exchange market, along with Paxos, is also considering similar applications. This shift underscores a growing trend among crypto firms to secure formal recognition within the established financial system, potentially augmenting their operational capabilities and market influence.
These developments represent a significant step toward harmonizing digital currency operations with mainstream financial practices, aligning with the global trend of increasing institutional adoption of cryptocurrencies.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for Coinbase Global Inc (COIN, Financial) is $284.50 with a high estimate of $400.00 and a low estimate of $169.00. The average target implies an upside of 62.54% from the current price of $175.03. More detailed estimate data can be found on the Coinbase Global Inc (COIN) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, Coinbase Global Inc's (COIN, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Coinbase Global Inc (COIN, Financial) in one year is $184.72, suggesting a upside of 5.54% from the current price of $175.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Coinbase Global Inc (COIN) Summary page.
