Armstrong's Bull-Market Case Comes With Caveats: Coinbase CEO Sees Possible Path to Next Crypto Boom
Coinbase CEO Brian Armstrong shared his thoughts on the current state of the cryptocurrency market during an appearance on CNBC's Squawk Box.
In a recent interview, Armstrong mentioned that he believes crypto spot trading may be nearing its next bull market and that Bitcoin could reach $400,000 by 2030. However, he also emphasized that nobody knows for sure in markets like Bitcoin and highlighted several factors that could affect growth, including quantum-resistant upgrades.
Armstrong pointed to past Bitcoin trends and fear-and-greed indexes as part of his reasoning for believing the market may have found a bottom near $60,000. He characterized the period as a winter for crypto, while calling it mild for Bitcoin specifically.
The Coinbase CEO also identified market structure and legislation as potential drivers of Bitcoin growth, suggesting that public listings and subsequent unlocks could allow capital to move back around.