Coinbase CEO Brian Armstrong maintained his prediction that Bitcoin could reach $1 million by 2030, citing the cryptocurrency's fixed supply of 21 million coins and growing global demand, even as markets faced short-term volatility with prices hovering around $89,000 and the broader crypto market shedding $160 billion in a single day.
What Happened: Davos Price Forecast
Armstrong made the comments during an appearance at Bloomberg House at the World Economic Forum in Davos, Switzerland — the annual gathering of global business and political leaders in the Swiss Alps. He urged investors to ignore weekly price swings and focus on long-term trends.
The Coinbase chief has held this view since at least 2025.
Armstrong also expressed optimism about U.S. cryptocurrency legislation during ongoing discussions with lawmakers.
However, the executive recently said Coinbase can no longer support the U.S. Senate's crypto market structure bill as currently drafted.
After reviewing the Senate Banking Committee draft over the past 48 hours, Armstrong concluded the bill would be "materially worse than the status quo."
While acknowledging the bipartisan effort behind the legislation, he said Coinbase would rather see no bill passed than support a framework he believes would damage innovation and competition in the U.S. crypto sector.
Also Read: The One Signal Everyone Missed Before Bitcoin Crashed And Wiped Out Nearly $1B
Why It Matters: Supply Argument
Armstrong's comments drew varied reactions across social media, with some crypto commentators interpreting his remarks as a bullish signal amid the current market downturn.
The prediction centers on Bitcoin's scarcity — its protocol caps total supply at 21 million coins, a feature proponents argue will drive prices higher as demand increases.
The remarks underscore Bitcoin's growing prominence in global financial discussions, even as regulatory uncertainty persists in Washington.
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