Public Keys: Circle and Coinbase Get GENIUS Bump, Bitcoin Treasuries on Shaky Ground?
Summary
Circle's CRCL shares surged following the Senate's approval of the GENIUS Act, opening at $156.36 and peaking near $249, marking an increase from its $31 IPO. Analysts predict the stablecoin market could reach $500 billion by next year and $2 trillion long-term. Coinbase's stock also rose about 30% this week, closing above $308. Semler Scientific's mNAV improved slightly to 1.23 after announcing plans to acquire 105,000 Bitcoin by 2027, though shares remain down from earlier this year. Fold is selling $250 million in shares to build a Bitcoin treasury, with its stock slipping to $4.50. Tesla and Block, Inc. report significant unrealized gains from their Bitcoin holdings, with Tesla having sold 75% of its BTC in 2022.
