Coinbase CEO Calls $400K Bitcoin Target Reasonable By 2030

Coinbase CEO Brian Armstrong believes Bitcoin can still reach $400,000 by 2030. Speaking on television this week, he called that ambitious target reasonable even though the leading cryptocurrency currently trades near $76,700. He pointed out that Bitcoin follows a four year cycle and has already passed the one year mark of its latest correction, meaning the absolute bottom is likely already in place after a recent bounce from $60,000.

Looking ahead, Armstrong expects a strong period for the asset over the next year or two. He noted that Bitcoin historically rallies ahead of its halving events, while also highlighting positive changes on the regulatory front in Washington. Lawmakers are preparing to vote on the CLARITY Act, and he feels confident the bill will pass with broad support from banks, law enforcement, and crypto companies.

Even if the Senate delays the legislation, Armstrong thinks the Securities and Exchange Commission and the Commodity Futures Trading Commission are ready to issue independent rulemaking. Traders should watch the upcoming regulatory votes and monitor whether Bitcoin can hold its recent price momentum as the market enters a new phase.