Bernstein analysts said the Senate Clarity Act markup and yield compromise strengthen Circle's model as dollar stablecoin supply grows.
Bernstein maintained its $190 Circle target, citing ARC presale proceeds, USDC growth, and expanding stablecoin payments infrastructure.
Circle raised $222M in an Arc presale at a $3B valuation; BlackRock, Apollo, and a16z invest as Q1 revenue reaches $694M and USDC hits $77B.