# Investment Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Investment", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Bull vs. Bear Debate: Is Stablecoin Leader CRCL Worth Buying? Why Can't High-Growth Earnings Drive the Stock Price?

"Circle (NYSE: CRCL), the issuer of USDC, has sparked intense debate in the crypto community following its Q3 2025 earnings report. Despite reporting strong growth—revenue up 66% YoY to $740 million and net income of $214 million, driven by a 108% increase in USDC circulation—its stock price fell significantly post-earnings and remains near its IPO price of $64. The core disagreement revolves around Circle’s business model and sustainability. Critics, including Jiang Zhuorer, argue that Circle operates like a bank, earning primarily through interest on reserve assets (mainly U.S. Treasuries), but is highly vulnerable to interest rate cuts. They highlight that ~60% of revenue is paid to distributors like Coinbase, leaving thin margins that could turn negative in a low-rate environment. They also warn of competition from traditional financial giants like JPMorgan and potential policy changes. Proponents, such as BTCdayu and qinbafrank, counter that Circle is building a long-term, network-driven infrastructure play. They compare it to Amazon or JD.com, arguing that current profit-sharing is a strategic cost to achieve scale, compliance advantage, and eventual market dominance in a winner-take-all industry. They believe USDC’s合规 (compliance) edge and institutional trust will drive adoption to multi-trillion dollars, outweighing interest rate risks. Short-term concerns include significant post-IPO lockup expirations adding selling pressure, and structural barriers like U.S. tax treatment of USDC as a property (not cash), hindering retail payment adoption. The debate encapsulates a clash between cyclical concerns (rates, costs, competition) and structural optimism (scale, compliance, network effects)."

Odaily星球日报Yesterday 13:20

Bull vs. Bear Debate: Is Stablecoin Leader CRCL Worth Buying? Why Can't High-Growth Earnings Drive the Stock Price?

Odaily星球日报Yesterday 13:20

Bull vs. Bear Debate: Is the Profit Moat of Stablecoin Leader CRCL Solid?

The article presents a heated debate surrounding Circle (NYSE: CRCL), the issuer of the stablecoin USDC, focusing on the sustainability of its business model following its IPO and Q3 2025 earnings report. Key bearish points, led by figures like Jiang Zhuo'er, argue that CRCL's profits are unsustainable. They compare it to a bank reliant on an interest rate spread, which is highly vulnerable to Federal Reserve rate cuts. Critics highlight that over 60% of profits are paid to distributor Coinbase, leaving CRCL with a thin margin. They warn that competition from traditional financial giants like JPMorgan could easily disrupt its model, and that its regulatory advantage is a temporary benefit, not a permanent moat. Bullish commentators, including @BTCdayu and @qinbafrank, counter that CRCL is a long-term infrastructure play, not a simple bank. They believe current profit-sharing is a strategic cost to achieve market dominance and network effects, similar to companies like Amazon in their early days. They argue that future growth from massive USDC adoption (potentially reaching trillions) will far outweigh the impact of falling interest rates. They see compliance as a powerful, long-term moat that will eliminate smaller competitors. Additional short-term concerns include a significant sell-off pressure from the post-IPO lockup expiration and a structural barrier to USDC's use in U.S. retail payments due to its classification as a taxable asset. In summary, the debate pits short-term cyclical risks (interest rates, high costs, sell pressure) against a long-term structural opportunity (market growth, network effects, compliance as a barrier to entry). The core question remains whether CRCL's current model is a fragile interest-rate play or a foundational bet on the future of digital currency.

比推22h ago

Bull vs. Bear Debate: Is the Profit Moat of Stablecoin Leader CRCL Solid?

比推22h ago

JPMorgan's 2026 Global Investment Outlook: Economic 'K-Shaped Divergence' Continues; AI Adoption Soars

JPMorgan's 2026 Global Investment Outlook highlights a continued "K-shaped" economic divergence in the U.S., where high-income groups and technology sectors benefit significantly, while middle- and lower-income populations and interest-rate-sensitive industries face ongoing pressure. The U.S. economy is expected to remain resilient, supporting risk assets like equities and corporate credit, though cyclical momentum is limited. The Federal Reserve will continue normalizing interest rates cautiously amid potential volatility. Key investment themes include balancing portfolios across stocks, bonds, and alternative assets to capture structural opportunities and diversify returns. Three critical questions for investors are whether stocks are overvalued, if profits can remain strong, and whether AI-related stocks are in a bubble. Growth stocks, particularly in technology, remain attractive due to strong earnings, while consumer stocks lag due to tax and spending pressures. AI beneficiaries extend beyond innovators to enablers (industrials, utilities) and adopters (finance, healthcare). Fixed income investments should focus on high-quality assets, with longer-duration bonds offering potential upside if rates decline. Despite a recent increase in international equity allocations, U.S. equities remain overweighted. The "60/40" stock/bond model is evolving into "60/40+" by incorporating alternatives for lower correlation and reduced volatility. Structural improvements in international markets and a weaker dollar support non-U.S. equities. Investors are advised to emphasize selectivity, diversification, and active management in a complex macro environment.

cointelegraph_中文20h ago

JPMorgan's 2026 Global Investment Outlook: Economic 'K-Shaped Divergence' Continues; AI Adoption Soars

cointelegraph_中文20h ago

Analyst: Ripple (XRP) Price Could Rise from $2 to $10 in Less Than a Year

Cryptocurrency analyst Chad Steingraber predicts that XRP could surge from $2 to $10 in less than a year, driven by strong institutional demand through recently launched exchange-traded funds (ETFs). Key factors supporting this outlook include the rapid accumulation of XRP by ETFs. Data from SoSoValue shows that XRP-focused ETFs have absorbed over 506 million XRP (worth approximately $506 million) in under a month since their launch in November. This represents about 0.74% of XRP’s circulating supply—a significant level of adoption in a short time. Additionally, the Bitwise Crypto 10 Fund (BITW), which holds XRP as 5% of its portfolio, began trading with over $1.25 billion in assets. Steingraber draws parallels to Bitcoin’s post-ETF performance, suggesting that continued ETF inflows could propel XRP toward a 400% price increase by 2026. Technically, XRP’s chart patterns support a bullish outlook. On weekly charts, the token has broken out of a multi-month symmetrical triangle—a pattern often indicating a strong trend continuation. The measured move from this pattern suggests a potential rise to the $14–$15 range. A second pattern, a bull flag observed on higher timeframes, also points to a target near $14–$15, reinforcing the analyst’s prediction. The article includes standard disclaimers that it is not investment advice and all trading carries risk.

cointelegraph_中文7h ago

Analyst: Ripple (XRP) Price Could Rise from $2 to $10 in Less Than a Year

cointelegraph_中文7h ago

Central Bank Names Bitcoin the Most Loss-Making Asset in November When Invested in Rubles

The Central Bank of Russia, in its latest "Financial Market Risks Review," identified Bitcoin as the worst-performing asset in November for ruble-denominated investments. The regulator included Bitcoin in its comparative table of asset returns, as it has done routinely. The list includes instruments from the Russian market, as well as gold, US government bonds, and other assets. In contrast to previous months, Russian stocks demonstrated the highest total returns in November. Although Bitcoin reached a new all-time high exceeding $126,000 on October 6th, this peak was not achieved against several currencies, including the euro, Swiss franc, and the Russian ruble. Against the ruble, the price remained below its December 2024 peak. According to the regulator's calculations, Bitcoin showed the worst returns in ruble terms for November (-19.9%), since the start of 2025 (-25.7%), and over the past 12 months (-31.9%). Notably, in reports prior to and including September 2025, Bitcoin was consistently among the top performers. However, since the beginning of 2022, Bitcoin remains the second-best performing asset after gold, having gained over 100% and significantly outperforming other assets. The report also provided data on Russian crypto investment activity. The volume of open positions held by individuals in cryptocurrency futures on the Moscow Exchange reached 3.5 billion rubles by the end of November. The majority of investors hold small positions, but the largest share of the volume comes from major participants. Additionally, thousands of investors have allocated funds to crypto CFAs and copy-trading strategies linked to crypto assets. Over 500 people participate in OTC crypto derivatives. The report also noted an 18% decline in the volume of transactions by Russians on foreign crypto exchanges in Q2 and Q3 2025 compared to the previous two quarters, alongside a decrease in estimated ruble balances on crypto exchanges and traffic to crypto platforms from Russia.

RBK-crypto1h ago

Central Bank Names Bitcoin the Most Loss-Making Asset in November When Invested in Rubles

RBK-crypto1h ago

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