Armstrong Sticks by $1 Million Bitcoin Prediction Amid Market Volatility

Coinbase CEO Brian Armstrong remains confident in his prediction that Bitcoin could reach $1 million by 2030, despite current market volatility. Speaking at the World Economic Forum in Davos, Switzerland, Armstrong cited the cryptocurrency's fixed supply and growing global demand as reasons for his optimism.

The Coinbase chief has held this view since at least 2025 and urged investors to focus on long-term trends rather than weekly price swings. He acknowledged that prices have hovered around $89,000 and the broader crypto market has shed $160 billion in a single day, but believes these fluctuations are temporary.

Armstrong also expressed concerns about a U.S. Senate bill aimed at regulating the crypto market, saying it could be 'materially worse than the status quo' if passed in its current form. He stated that Coinbase would rather see no bill passed than support a framework that could damage innovation and competition in the U.S. crypto sector.

The prediction centers on Bitcoin's scarcity, its protocol caps total supply at 21 million coins, which proponents argue will drive prices higher as demand increases.