Ryan Rasmussen, Head of Research at Bitwise Asset Management, believes Circle is undervalued by the market, with a potential market capitalization of $75 billion by 2030. The stablecoin market is expected to grow from over $150 billion today to $1.9 or $2 trillion by 2030, representing approximately tenfold growth. Circle shares dropped 17 to 20 % following its IPO in June 2025, as investors worried about potential regulatory restrictions on stablecoin yield. Bitwise’s model assumes Circle will capture 25 % of the total stablecoin market, which could generate roughly $10 billion in annual revenue within a $1 trillion stablecoin market.
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