Armstrong Sees $400K Bitcoin Target as Bear Market Nears End

Coinbase CEO Brian Armstrong predicts Bitcoin will surge to $400,000 by 2030. He believes the bear market is nearing its end and a new bull cycle is about to begin in the crypto market.

Armstrong attributes this optimism to the upcoming vote on the CLARITY Act, which he thinks has 'quite high' odds of passing. The bill aims to provide regulatory clarity for the crypto industry and could unlock significant growth potential for Bitcoin.

In an interview with Fox Business, Armstrong said that Bitcoin's August 19-20 rally was linked to the strong prospects of the CLARITY Act being approved. He also noted that major financial counterparties have backed the initiative, seeing it as a chance to grow their business using crypto technology.