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Crypto stocks crashed hard. Investment firm Bernstein thinks now’s the time to buy, with major names trading nearly 60% below their 2025 peaks as of March 30. The firm sees a big opportunity in these beaten-down prices.
Coinbase leads the carnage, dropping from over $150 to around $60 per share. That’s a massive fall for the crypto exchange giant. Robinhood got hammered too, sliding from $21 to roughly $9 as trading volumes dried up and competition heated up. Figure Technologies didn’t escape either – shares fell from $12 to about $5 as blockchain adoption slowed. These companies all got hit by the same toxic mix: regulatory pressure, market volatility, and weak expected first-quarter earnings. But Bernstein thinks that’s exactly why smart money should be buying.
Not everyone’s convinced yet.
The investment firm’s March 30 report makes a bold case for jumping into crypto stocks while they’re cheap. Bernstein analysts believe these companies still have strong fundamentals despite the brutal selloff. Coinbase keeps adding users and expanding globally. Robinhood’s crypto integration brought in new customers even as traditional trading slowed. Figure Technologies sits right in the sweet spot of blockchain financial services, which should boom as adoption picks up.
Companies Fight Back Hard
These firms aren’t just sitting around waiting for a rescue. Coinbase struck a major partnership with a European financial institution earlier this year to make crypto transactions easier for European users. The deal could open up huge new revenue streams as European crypto adoption accelerates.
Robinhood launched educational webinars on March 15 to teach users about crypto investing. The company’s betting that better-educated customers will trade more and stick around longer. It’s pretty much doubling down on retail investors while competitors chase institutions.
Figure Technologies announced a breakthrough on March 22 – they successfully implemented a new blockchain protocol that makes their financial services platform way more efficient. The upgrade should attract institutional clients who need fast, reliable blockchain infrastructure.
Earnings Could Be Ugly
First-quarter results won’t be pretty. All three companies face headwinds from lower trading volumes, regulatory uncertainty, and higher compliance costs. Coinbase’s revenue probably took a hit as crypto prices stayed volatile and retail trading slowed. Robinhood’s crypto segment likely struggled too, though their stock trading might have held up better.
Figure’s numbers are harder to predict since they’re more focused on B2B blockchain services. But even they probably felt the chill as companies delayed blockchain projects amid economic uncertainty.
Bernstein thinks investors should look past the ugly Q1 numbers. The firm argues that weak earnings are already baked into these rock-bottom stock prices. And historically, the best time to buy growth stocks is when everyone else is running for the exits. Industry observers have noted parallels with OnePay Adds Major Crypto Tokens as in recent weeks.
The regulatory picture remains murky, which keeps many investors on the sidelines. SEC enforcement actions and unclear rules make it tough for crypto companies to plan ahead. But Bernstein sees this as temporary – eventually, clearer regulations should help legitimate players like Coinbase and Robinhood.
Global economic conditions add another layer of risk. Rising interest rates and inflation fears make investors less willing to bet on speculative growth stocks. Crypto stocks definitely fall into that category, which explains some of the selling pressure.
Yet Bernstein maintains that patient investors could get rewarded. As blockchain technology matures and regulations clarify, companies with strong market positions should benefit. Coinbase dominates U.S. crypto trading. Robinhood has millions of young, tech-savvy users. Figure leads in blockchain financial services.
The timing of any recovery stays unclear though. Crypto markets are notoriously unpredictable, and these stocks could stay depressed for months or even longer. Bernstein’s basically making a long-term bet that crypto adoption will continue growing despite current headwinds.
None of the companies responded to requests for comment about Bernstein’s analysis. That’s not surprising given how sensitive stock prices are right now. Any wrong word could send shares tumbling further.
But the silence also means investors have to rely on public information and analyst reports like Bernstein’s to make decisions. The investment firm has a decent track record in tech stocks, though they’ve been wrong before about timing market bottoms.
The crypto stock selloff reflects broader concerns about the digital asset space. Bitcoin and Ethereum prices have been volatile, institutional adoption has slowed, and regulatory crackdowns continue worldwide. These macro factors weigh on any company tied to crypto. This development aligns with Canada Bans Crypto Election Donations, highlighting broader market trends.
Still, Bernstein thinks the worst might be over. The firm points to early signs of institutional interest returning and regulatory clarity improving in some jurisdictions. Europe’s MiCA regulations and potential U.S. crypto legislation could provide the framework companies need to grow.
Mid-April earnings releases will give investors their first real look at how these companies performed during the market downturn.
Frequently Asked Questions
Which crypto stocks does Bernstein recommend buying?
Bernstein recommends Coinbase, Robinhood, and Figure Technologies, which are trading nearly 60% below their 2025 peaks.
Why are crypto stocks down so much?
The stocks fell due to regulatory pressure, market volatility, and expected weak Q1 earnings across the sector.
