Coinbase CEO Brian Armstrong says Bitcoin (BTC) could climb more than fivefold to $400,000 by 2030, arguing the bottom is in before the next halving.
Key Points:
- Armstrong still considers $400,000 by 2030 a “reasonable target” for Bitcoin.
- He believes the latest Bitcoin downturn has bottomed after roughly a year.
- Armstrong also expects greater U.S. crypto regulatory clarity within about a month.
Bitcoin $400K Case
Armstrong told CNBC on Thursday that $400,000 remains a “reasonable target” for Bitcoin, which was trading near $77,000 during the interview. Reaching that level would require the cryptocurrency to rise more than fivefold in a little over three years.
He tied the forecast partly to Bitcoin’s four-year market cycle, saying the current decline has lasted about as long as previous down periods. “I personally believe that the bottom is in on Bitcoin in this most recent cycle,” Armstrong said, noting the asset had rebounded from around $60,000. Armstrong also pointed to the next Bitcoin halving, expected in roughly 18 months, and said the next one or two years could be favorable for the asset.
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Armstrong Regulation Outlook
Armstrong also predicted that U.S. crypto rules will become clearer within a month, whether Congress passes the Clarity Act or regulators act under existing authority. The Senate is scheduled to vote on the bill Sept. 15, and Armstrong said people he has spoken with in Washington believe it is “ready to get a yes vote.”
Prediction market Myriad was much less confident, putting the probability of the Clarity Act becoming law in 2026 at 17%. Armstrong said the remaining dispute centers on ethics rules for the president’s family crypto ventures, with lawmakers still negotiating over the terms.
He said failure in Congress would not necessarily stop new rules because the SEC and CFTC have indicated they could move under existing authority. Armstrong cited last year’s Genius Act as a precedent, saying more than 150 large companies integrated stablecoins within three months of its passage. He also said clearer rules could help bring tokenized equities and perpetual futures to U.S. customers, products Coinbase has already been preparing to offer.
The $400,000 forecast follows a difficult year for both Bitcoin and Coinbase. During the downturn, Coinbase cut 14% of its workforce, while second-quarter revenue fell 14% from the previous quarter to $1.22 billion and the company posted a $359 million net loss.
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