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Coinbase Stock Could Surge 64% Amid Trump-Backed Crypto Push: Bernstein

A report by investment firm Bernstein suggests that the stock price of Coinbase, a leading cryptocurrency exchange, could surge by as much as 64% in the coming year, driven in part by a potential Trump-backed push for mainstream adoption of digital currencies.

According to the report, Bernstein analyst Harshini Basavaraj estimates that Coinbase's stock could rise to $55 per share by the end of 2023, representing a gain of 64% from its current price of around $33. This prediction is based on several factors, including the growing interest in cryptocurrencies among institutional investors and the potential for increased adoption of digital currencies in the wake of a Trump-backed push.

Trump, who has a history of supporting cryptocurrencies and blockchain technology, has been rumored to be considering a potential endorsement of digital currencies, which could lead to increased mainstream acceptance and adoption. This, in turn, could drive up demand for Coinbase's services and lead to a surge in its stock price.

The report also notes that Coinbase's revenue has been growing steadily over the past few years, driven in part by the increasing popularity of cryptocurrencies such as Bitcoin and Ethereum. Additionally, the company has been expanding its offerings to include new products and services, such as a cryptocurrency lending platform and a decentralized finance (DeFi) trading platform.

Overall, the report suggests that Coinbase's stock could be a good investment opportunity for those looking to get in on the ground floor of the growing cryptocurrency market. However, it's always important to do your own research and consider your own risk tolerance before investing in any stock or asset.