Wall Street Analyst Declares Bitcoin’s Weakness Just a Blip, Doubles Down on Circle and Coinbase

Bitcoin's recent stumble? Don't sweat it, says a top Wall Street voice.

The Big Picture: A Temporary Dip

Forget the panic. A major analyst from the traditional finance world is calling the current crypto market softness exactly what it is: a passing phase. The long-term thesis for digital assets remains intact, and this is just another buying opportunity dressed up as bad news—something Wall Street excels at creating to shake out weak hands.

Backing the Builders, Not Just the Asset

The confidence doesn't stop at Bitcoin. The analyst is putting their reputation behind two pivotal infrastructure players: Circle, the powerhouse behind the dominant USDC stablecoin, and Coinbase, the retail gateway that's becoming an institutional fortress. This isn't just a bet on price; it's a bet on the plumbing of the new financial system.

Why This Matters for Your Portfolio

When traditional finance heavyweights start endorsing specific crypto companies alongside the flagship asset, it signals a maturation. The narrative is shifting from pure speculation to tangible value creation and utility. These picks highlight the critical middleware—the exchanges and dollar-on-ramps—that make the whole ecosystem tick, often making more reliable money than the volatile tokens themselves (a fact not lost on cynical bankers).

The takeaway? The smart money sees the dip, shrugs, and loads up on the pillars holding up the next era of finance—while the old guard still tries to short it using last century's playbook.

William Blair Fintech Equity Analyst Andrew Jeffery thinks now is the time to buy Bitcoin.

In a CNBC interview, Jeffery said the recent crypto weakness is temporary and backed Circle and Coinbase as his top picks. He believes Bitcoin will eventually challenge gold’s market cap, which is currently 15 times larger.

Bitcoin has pulled back alongside broader markets, but Jeffery is not concerned. He called bitcoin an “immature asset” with a market cap of just $1.9 trillion.

One issue he flagged: supply concentration. About one-third of all Bitcoin sits in roughly 2 million wallets. And the newest buyers, retail investors using ETFs, tend to sell first when prices drop.

“The most recent buyers, namely retail in ETFs, are probably the weakest hands,” Jeffery said. “Downdrafts sort of become self-fulfilling.”

Can Bitcoin Really Rival Gold?

Jeffery thinks so. He argues Bitcoin has clear advantages over gold: lower costs to hold, a capped supply, and easier movement across borders.

Gold sits at a market cap roughly 15 times higher than Bitcoin. Jeffery sees that gap narrowing over time.

“I see Bitcoin over time being a true store of value and supplanting Gold in a lot of respects,” he said.

He also reminded viewers that Bitcoin has been the best-performing asset in the world over the past decade.

Why He’s Betting on Circle and Coinbase

Jeffery made one thing clear: Bitcoin is not a payment tool. That role belongs to stablecoins.

“I think that’s where stablecoins come in, and USDC is the play,” he said. “That’s why we’re so bullish on Circle.”

Circle issues USDC, the second-largest stablecoin by market cap. With stablecoin adoption rising and Coinbase sitting at the center of U.S. crypto infrastructure, Jeffery sees both names as strong bets for the year ahead.