Coinbase Chief Executive Brian Armstrong said on CNBC Squawk Box Asia that Bitcoin reaching $400,000 by 2030 is a "reasonable target," even as BTC currently trades around $77,000.
Armstrong pointed to Bitcoin's four-year cycle, noting the market typically follows a pattern of gains followed by a year-long downturn. He said the current down period, which has lasted about a year, has likely bottomed out after Bitcoin rose from around $60,000. "I personally believe that the bottom is in on Bitcoin in this most recent cycle," he said.
The CEO also cited an expected Bitcoin halving in approximately 18 months, suggesting that such events typically precede price runups. "I think the next year or two is going to be good for Bitcoin," Armstrong added. Reaching $400,000 would represent roughly a fivefold increase over three years.
Regulatory Expectations
Armstrong expressed confidence about upcoming U.S. cryptocurrency regulation. The Senate is scheduled to vote on the Clarity Act on September 15, and Armstrong said those he has spoken with indicate it is "ready to get a yes vote." Law enforcement groups, many banks, and crypto companies support the measure, he noted, and previously raised objections by Coinbase have been addressed.
One remaining issue involves ethics rules regarding the president's family crypto ventures. Armstrong described a White House provision on the matter as "unprecedented" for a sitting president, while Democrats are pushing for divestiture. He characterized these discussions as "close to a solution."
Armstrong expects regulatory clarity within a month regardless of the Clarity Act's outcome. The SEC and CFTC have indicated they are prepared to publish rulemaking and innovation exemptions under existing authority, he said.
Potential Market Changes
If the Clarity Act passes, it could enable tokenized equities and perpetual futures for U.S. customers. Coinbase has been preparing for these offerings, having announced plans in June for tokenized stock trading with automatic dividends. In May, Coinbase became the first U.S. exchange approved to offer crypto perpetual futures.
