Oppenheimer said Bitcoin’s further entry into the mainstream could pave the way for crypto stock Coinbase to join the S&P 500. “We are approaching a landmark inflection point in U.S. blockchain development,” analyst Owen Lau said in a note to clients late Sunday. “For investors looking to secure blockchain exposure in their portfolios “We believe that 1) increased regulatory transparency and 2) digital assets becoming mainstream can increase the chances of COIN being included in the S&P 500 Index,” he added. road. “We are increasingly positive on our long-term view on COIN.” Lau has an outperform rating on Coinbase with a price target of $282, which implies an upside of about 12% from current levels. The use of cryptocurrencies – whether for transactions or otherwise – may not be widespread yet, but Bitcoin fever is high in the United States, as former President Donald Trump said in a speech over the weekend in Nashville at the largest industry conference of the year. Proved this. Liu’s comments were part of the incident report. Policy and regulation were the focus of the meeting. Trump’s appearance brings him together with independent presidential candidate Robert F. Kennedy Jr. Cynthia Lummis, a pro-Bitcoin Republican senator from Wyoming; and Ro Khanna, a Democratic representative from California. Coinbase goes public in 2021. However, over the past three years, shares have risen just 3%, while the S&P 500 has gained 23%. Its share price has been correlated with highly volatile Bitcoin, but as the industry matures with the emergence of regulated investment products such as ETFs and the development of other cryptocurrency-based use cases beyond trading, analysts and investors expect crypto to Currency volatility will ease.
