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However, the investment banking firm Oppenheimer (PT: $282, outperform ) added a bit of optimism, saying that the upcoming election could act as a positive catalyst for the stock. “Since our meetings with legislators in May, our thesis has been that Coinbase would benefit the most in our coverage if former President Donald Trump is re-elected. Recent events including Trump’s continuing to speak in Bitcoin conferences in-person only increase our confidence,” the firm’s analyst wrote.