Bitwise Exec Says Circle Valuation Misses Huge Stablecoin Growth

Bitwise executive Matt Rasmussen believes the market is severely underestimating Circle. The issuer behind the USDC stablecoin is moving far beyond simple interest on its reserves, but investors have not yet priced in this shift.

Circle is actively expanding its footprint into broader payments infrastructure. While many market watchers view stablecoin issuers merely as yield earners on cash reserves, Rasmussen argues that building deep payments tech creates a much larger, long term advantage.

As stablecoins gain broader adoption across global financial systems, payment integration could become a major revenue driver. Investors tracking crypto infrastructure should watch how Circle builds out these utility tools, as it could reshape how the market values major stablecoin issuers.