Chatbots Would Rather You Skip USDC, Mizuho Finds, Cutting Circle Target to $43
Photo: Unchained
Mizuho thinks AI assistants that shop around for yield on behalf of their users could become a real drag on Circle’s business. Mizuho Securities on Monday trimmed its Circle Internet Group (CRCL) price target by $2, to $43 , while reiterating an Underperform rating. In the note, the bank estimated that AI personal-assistant tools pulling holders out of USDC and into better-paying products could cut Circle’s reserve revenue by 10% to 20% over the medium term and erase $4 billion to $9 billion of USDC’s market value.
Source: Unchained
