We came across a bearish thesis on Circle Internet Group on Just Value’s Substack. In this article, we will summarize the bears’ thesis on CRCL. Circle Internet Group's share was trading at $83.46 as of January 13th. CRCL’s forward P/E was 84.03 according to Yahoo Finance.
Circle Internet Group, Inc. operates as a platform, network, and market infrastructure for stablecoin and blockchain applications. CRCL illustrates the dilemma facing a listed fintech whose financial performance hinges more on macro forces than on its own strategy. As the issuer of USDC and EURC—fully...
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