Middle East tensions, higher oil boost Circle (CRCL) shares as rate-cut odds fade: Mizuho
Published on March 3, 2026.
Shares of stablecoin issuer Circle (CRCL) have risen by over 20% this week following Israeli and U.S. airstrikes on Iran, which could potentially rekindle inflationary pressures and lower Federal Reserve rate cuts. The increase in oil prices is attributed to concerns about potential inflationary measures. The company, which generates its revenue from interest income on US government debt held in USDC stablecoin USDC, earns significantly higher interest rates than rates that compress this revenue stream. Mizuho has raised its Circle price target to $100 from $90, while maintaining a neutral rating on the shares. The bank also noted that reduced expectations for rate cuts add about 1% to their Circle 2026 and 2027 revenue forecasts.
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