Cryptocurrency investor Will Clementi has predicted that Coinbase could be worth $400 billion, which would be a seven-fold gain from current levels.
Coinbase is one of the largest centralized cryptocurrency exchanges alongside market players like Binance, Bybit, and Kraken.
Although Coinbase stock (currency) has been on an upward trend since January 2023, with the company’s shares down more than 30% from where they traded after its IPO. Currently, COIN is trading at around $222 and Clemente He believes that the stock has the potential to rise to $1,700 by the end of the crypto cycle.
What might support Coinbase stock price?
According to Clemente, the chances of Coin’s popularity skyrocketing depend on a sharp regulatory shift in the United States. “Without that, $750 to $1,000 seems more reasonable,” Clemente says, though the Reflective Research founder insists that change will come in Congress.
If this happens, Coinbase will be strategically positioned as the leading cryptocurrency exchange in America. This is also supported by government sponsorship, as the US government uses the platform as its preferred brokerage service for digital assets.
The company also boasts an Ethereum-based layer 2 scaling solution called Base and is the first publicly traded company to run its own blockchain network. Given Base’s close ties to Coinbase Wallet and Circle’s USDC token, along with potential stablecoin policies on the horizon, the company could find itself at the crossroads of mass crypto adoption.
What may ultimately decide the pendulum swing is who sits in the White House in 2025, whether it is a Democrat like current President Joe Biden, whose regime has taken a cautious approach to cryptocurrencies, or the leading Republican candidate Donald Trump, who has described himself as the pro-crypto candidate.