Bitwise CIO Matt Hougan says Circle could reach $75B by 2030 despite recent selloff

Bitwise CIO Matt Hougan outlined a long-term projection suggesting Circle could achieve a valuation of approximately $75 billion by 2030, focusing on fundamental stablecoin adoption drivers rather than short-term regulatory concerns. Hougan's model is based on three factors: a projected $1.9 trillion stablecoin market by 2030, Circle maintaining a 25% market share with USDC, and achieving a 0.8% margin after distribution costs. This scenario forecasts about $3.8 billion in revenue and $2.7 billion in net income, supporting the high valuation using standard equity multiples. This analysis followed a recent 20% drop in Circle's shares due to potential legislative limitations on stablecoin yield incentives. Hougan stressed that stablecoin utility—like faster payments and global accessibility—drives adoption more than yield, and Circle's strong position in regulated markets could become increasingly valuable under stricter regulation.

(Source：Crypto Briefing)