Bitwise is bullish on Circle's long-term value: its valuation could reach $75 billion by 2030.

Following a sharp drop in Circle's stock price due to regulatory concerns, asset management firm Bitwise predicted its valuation could reach $75 billion by 2030, deeming the market overreacting. Bitwise's Chief Investment Officer, Matt Hougan, stated that the relevant legislation has not changed the fundamental growth logic of the stablecoin market, citing Citigroup's forecast that the stablecoin market could reach $1.9 trillion by 2030. He pointed out that interest income is not the core driver of stablecoin growth. Furthermore, institutions such as William Blair believe that despite continued uncertainty regarding regulatory statements, the value of stablecoins in cross-border B2B payments is evident, and their long-term prospects remain largely unaffected. Some analysts also pointed out that restricting profit distribution could actually weaken competitors' ability to attract liquidity through high yields, thus benefiting Circle. (The Block)