Wall Street analysts increasingly value crypto firms as infrastructure, AI and capital markets platforms
Wall Street analysts are increasingly recognizing the value of crypto firms as they evolve into infrastructure and capital markets platforms. Firms like Benchmark, TD Cowen, and Mizuho have maintained buy ratings on several crypto companies while adjusting price targets due to market conditions. Analysts emphasize the potential of these companies to leverage AI and power resources for future growth.
- ▪Three Wall Street firms have maintained buy-equivalent ratings on crypto companies like Bitdeer and DeFi Technologies.
- ▪Bitdeer's global power portfolio is seen as potentially more valuable than current market pricing suggests.
- ▪DeFi Technologies aims to transition into a capital markets utility for digital assets, with a focus on in-house custody solutions.
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Three Wall Street firms converged Monday on a shared investment argument across four publicly traded crypto companies, suggesting that the market is applying trading-business multiples to platforms that have already shifted toward AI infrastructure, capital markets utilities, and structured financial operations. Analysts at Benchmark, TD Cowen, and Mizuho each maintained buy-equivalent ratings on Bitdeer, DeFi Technologies, Strive, and Gemini — even as three of the four notes trimmed price targets to reflect compressed valuation multiples across the payments and crypto sectors. Benchmark on Bitdeer Benchmark analyst Mark Palmer made an expansive infrastructure case with Bitdeer (BTDR), reiterating his Buy rating and $27 price target.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Block (Crypto).