The CEO of the cryptocurrency exchange Coinbase Brian Armstrong believes that bitcoin could reach the $1 million mark by 2030. He said this in an interview with Fox Business, commenting on the market’s reaction to the US Federal Reserve’s rate cut.
According to Armstrong, the impact of rates on the crypto market is not always obvious. If previously it was believed that lower rates are positively correlated with the growth of risky assets, now bitcoin is increasingly perceived as “digital gold” – a tool for preserving value in conditions of uncertainty.
The head of Coinbase emphasized that his forecast is based not on current dynamics, but on long-term trends. In particular, he highlighted three main arguments in favor of bitcoin’s growth to $1 million:
- regulatory clarity. Armstrong recalled the Genius Act and the discussion of market structure legislation. In his opinion, the passage of these initiatives could be a game changer for the industry;
- government involvement. The creation of a strategic reserve in the first cryptocurrency by the U.S. will be a huge driver of demand, likely to be followed by other G20 countries, the expert said.
- ETFs and institutional capital. Coinbase provides asset custody for 80% of the launched bitcoin ETFs, Armstrong emphasized.
“All this creates powerful tailwinds for bitcoin. Its quantity is limited – there will never be more than 21 million coins. And many large capital funds still don’t have access to it. This means that bitcoin still has a very large growth potential,” — summarized the CEO of Coinbase.
Recall, earlier CEO of the cryptocurrency exchange Coinbase Brian Armstrong announced the company’s intentions to become a financial super-application.