But Bin: Already Established Position in Circle, Stock Price Expected to See a New Round of Growth

Daniel But, renowned investor and chairman of Shenzhen Oriental Harbor Investment Management Co., Ltd., posted on social media May 5 that he “took a small position in Circle Internet Group (CRCL.US) based on a researcher’s recommendation.” CRCL surged sharply Monday, emerging as one of the day’s top performers in the U.S. stock market. The surge’s key catalyst stemmed from a critical development in the U.S. Clear Law Act: the Senate reached a compromise on stablecoin regulatory provisions, resolving the bill’s core disagreements, eliminating longstanding industry regulatory uncertainty, and unlocking long-term growth opportunities for compliance-focused stablecoin leaders like Circle. Market expectations are that USDC’s compliance edge will grow further as the regulatory framework takes effect, with market share seen rising in emerging use cases like cross-border payments and AI-driven trading. Fundamentally, Circle’s core business is entering an explosive growth phase. USDC circulation has topped $79 billion, a new all-time high. Reserve asset interest income has surged alongside this, the company’s Q1 2026 profit outlook is clear, and performance fundamentals are strengthening. Meanwhile, a new “AI + stablecoins” industry narrative is emerging, with USDC—Circle’s on-chain transaction base currency—undergoing a full value upgrade. Market valuations are shifting from framing Circle as a “crypto cyclical stock” to a “Web3 + AI infrastructure play.” Additionally, crypto market sentiment has fully rebounded, adding further momentum to share price gains. Bitcoin briefly topped $80,000, leading a broad rally in crypto-related stocks. Market liquidity and risk appetite have jumped sharply, capital is flowing into the market quickly, and CRCL—a core player in the space—is seeing strong capital inflows. Investors should watch for two key milestones ahead: first, Q1 financial results due May 11 to validate performance, and second, the pace of stablecoin legislation. If regulatory and fundamental catalysts continue to play out, CRCL is poised for another round of valuation upside.