Coinbase stock may rally to $310 on Trump-led crypto policies
Coinbase exchange’s stock price has received an optimistic price prediction from a Bernstein analyst, citing improving crypto regulatory clarity in the world’s largest economy.
Gautam Chhugani, an analyst at global asset management firm Bernstein, initiated coverage of Nasdaq-listed Coinbase (COIN) stock with an outperform rating and a price target of over $310.
The analyst expects improving mainstream cryptocurrency adoption, driven by US President Donald Trump’s administration, which intends to make crypto policy a national priority and make the US a global hub for blockchain innovation, according to a Bernstein research note seen by Tipranks.
If Coinbase shares manage to rise to $310, it would mean an over 64% rally from the current $188 mark, Google Finance data shows.
COIN/USD, all-time chart. Source: Google Finance
The bullish price prediction comes over a week after Trump hosted the first White House Crypto Summit on March 7, shortly before he signed an executive order that outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases, Cointelegraph reported.
Related: Bitcoin beats global assets post-Trump election, despite BTC correction
Coinbase stock may surge on improving crypto regulatory clarity in the US
Coinbase is set to benefit from crypto’s “ascendancy to the US financial mainstream” amid improving regulations, mainly due to the firm offering a one-stop platform for numerous crypto activities, wrote the research note, adding:
“COIN is described as a crypto exchange, but it is actually what a universal Bank would look like in the world of blockchain-based financial services.”
“COIN offers an exchange, broker/dealer, institutional prime desk, stablecoin banking, crypto payments, custodian bank, software and blockchain ecosystem services, all combined into a full stack ‘Amazon’ of crypto financial services,” added the report.
Related: FDIC resists transparency on Operation Chokepoint 2.0 — Coinbase CLO
Crypto regulation is heading in a positive direction, with some analysts seeing the US Bitcoin reserve plan as the first “real step” for Bitcoin’s integration into the global financial system.
“The US has taken its first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” Joe Burnett, head of market research at Unchained, told Cointelegraph.
While Trump has previously highlighted his intentions to bolster crypto innovation in the US, issuing regulatory frameworks takes time and setting the “right regulatory tone” will be crucial for the administration, according to Anastasija Plotnikova, co-founder and CEO of Fideum — a regulatory and blockchain infrastructure firm focused on institutions.
Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8
The CARF regulation, which brings crypto under global tax reporting standards akin to traditional finance, marks a crucial turning point.
The nascent real-world tokenized assets track prices but do not provide investors the same legal rights as holding the underlying instruments.
Rachel Reeves has hinted that taxes are likely to be raised this autumn after a major U-turn on the government’s controversial welfare bill.
Sir Keir Starmer’s Universal Credit and Personal Independent Payment Bill passed through the House of Commons on Tuesday after multiple concessions and threats of a major rebellion.
MPs ended up voting for only one part of the plan: a cut to universal credit (UC) sickness benefits for new claimants from £97 a week to £50 from 2026/7.
Initially aimed at saving £5.5bn, it now leaves the government with an estimated £5.5bn black hole – close to breaching Ms Reeves’s fiscal rules set out last year.
Read more:
Yet another fiscal ‘black hole’? Here’s why this one matters
Success or failure: One year of Keir in nine charts
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Rachel Reeves’s fiscal dilemma
In an interview with The Guardian, the chancellor did not rule out tax rises later in the year, saying there were “costs” to watering down the welfare bill.
“I’m not going to [rule out tax rises], because it would be irresponsible for a chancellor to do that,” Ms Reeves told the outlet.
“We took the decisions last year to draw a line under unfunded commitments and economic mismanagement.
“So we’ll never have to do something like that again. But there are costs to what happened.”
Meanwhile, The Times reported that, ahead of the Commons vote on the welfare bill, Ms Reeves told cabinet ministers the decision to offer concessions would mean taxes would have to be raised.
The outlet reported that the chancellor said the tax rises would be smaller than those announced in the 2024 budget, but that she is expected to have to raise tens of billions more.
It comes after Ms Reeves said she was “totally” up to continuing as chancellor after appearing tearful at Prime Minister’s Questions.
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Why was the chancellor crying at PMQs?
Criticising Sir Keir for the U-turns on benefit reform during PMQs, Conservative leader Kemi Badenoch said the chancellor looked “absolutely miserable”, and questioned whether she would remain in post until the next election.
Sir Keir did not explicitly say that she would, and Ms Badenoch interjected to say: “How awful for the chancellor that he couldn’t confirm that she would stay in place.”
In her first comments after the incident, Ms Reeves said she was having a “tough day” before adding: “People saw I was upset, but that was yesterday.
“Today’s a new day and I’m just cracking on with the job.”
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Reeves is ‘totally’ up for the job
Sir Keir also told Sky News’ political editor Beth Rigby on Thursday that he “didn’t appreciate” that Ms Reeves was crying in the Commons.
“In PMQs, it is bang, bang, bang,” he said. “That’s what it was yesterday.
“And therefore, I was probably the last to appreciate anything else going on in the chamber, and that’s just a straightforward human explanation, common sense explanation.”
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