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The market cap of Circle is more than they have in Stablecoins.... this is the type of madness I have seen before... eg 2000 etc

For the record, I tried to short it at $270 but could not get the option strategy to fill at a price that made sense to me.

I also tried to short the stock but there was also no fill.

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onedollaretc

$1 Billion difference between Market cap ($62B) and SC circulation ($61). Am I right the more customers Circle gets in the future the more deposit/stablecoin they'll get, stock price will go much much higher?

Dr.Pouf

It makes not much sense. Circle is like a bank. The money they hold isn't theirs. Any depositor can withdraw their USDC back to USD at any time.

Boolish

No use trying to find logic in crypto market caps. We have coins like ADA and XRP in the top. We should have bought CRCL, it’s up over 500% or so. I don’t have access to Robinhood here in Australia but buying it at $30 would have been a steal