Armstrong Sees Bitcoin Bouncing Back Amid CLARITY Act Uncertainty
Coinbase CEO Brian Armstrong believes that Bitcoin has already passed its current cycle's bottom and will likely remain in an uptrend over the next one to two years.
In an interview, Armstrong stated that Bitcoin has rebounded about 23% over the past three weeks since its August low and is now trading at around $76,800. He maintained his previous forecast that Bitcoin could reach $400,000 by 2030.
Armstrong also discussed the upcoming CLARITY Act, which would split oversight authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission depending on the nature of a digital asset. Although the bill's prospects in the Senate remain unclear due to disagreements over an ethics provision, Armstrong gave a relatively upbeat assessment, citing broad support from crypto companies and the banking industry.