Intriguing IPOs: Circle Internet Group (CRCL)

Beneath all of the buzzwords and grandiose statements, Circle's prospects are tied more to fiat currency than crypto.

The Unwilling Traveler, Charles-Philogène Tschaggeny, 1856, oil on canvas

I’m as surprised as you are that I’m writing about a cryptocurrency company.

I’m far too unsophisticated as an investor to wrap my mind around cryptocurrencies. I’ve tried many times to wrap my head around the topic, but each time it ends up in the too-hard pile.

But, eventually, things in the too-hard pile stare back at you long enough. So, when Circle Internet Group (NASDAQ: CRCL) announced it was going public this week after a few botched attempts at a SPAC deal, I thought I should at least try and get some reps in.

What was surprising was that underneath a seemingly complex and sophisticated techological advancement for payments was a revenue model that’s thousands of years old. Even an antiquated investor like me can figure out this one.

Let’s dig in…

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