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Circle: Powering the Digital Dollar (but at what cost?)

Published
18 Jul 25
Updated
30 Jul 25
BlackGoat's Fair Value
US$122.10
7.3% overvalued intrinsic discount
30 Jul
US$130.97
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1Y
n/a
7D
-2.8%

Author's Valuation

US$122.1

7.3% overvalued intrinsic discount

BlackGoat's Fair Value

Shared on30 Jul 25
Fair value Decreased 63%

Update: Why I’m No Longer Bullish on Circle Since publishing my original thesis on Circle, I’ve sold my position. Over the past few weeks, I’ve done more research, especially as more data has become public, and my view has shifted.