Mizuho Trims BitGo Price Target to $11 Amid CLARITY Act Uncertainty

Mizuho has revised its price target for BitGo to $11 from $14, while maintaining an Outperform rating. This decision comes as analysts at Mizuho consider the potential implications of the CLARITY Act on the crypto custody firm's competitive advantage.

If the passage of the CLARITY Act is delayed, BitGo could retain its regulatory edge over rivals, according to Mizuho analysts. This could result in benefits for the company. The Block reported that Mizuho made this move while maintaining its Outperform rating.