Bitcoin Could Reach $400,000 by 2030, Says Coinbase CEO Armstrong

Coinbase CEO Brian Armstrong thinks Bitcoin (BTC) has bottomed out in its current cycle and believes it could reach $400,000 by 2030. He stated this on CNBC's Squawk Box Asia, reiterating a prediction he made previously.

The next halving is expected to occur in approximately 18 months, which Armstrong thinks could be beneficial for the asset. He also pointed out that stress in global bond markets could push capital towards Bitcoin due to its scarcity and lack of government control.

Armstrong emphasized the importance of regulatory clarity, stating that he expects U.S. crypto rules to become clearer within a month. The Senate is scheduled to vote on the CLARITY Act on September 15, which would provide legislation for the industry. If it passes or not, Armstrong believes regulators will act under existing authority.

Coinbase has been navigating a challenging period with depressed trading volumes and regulatory scrutiny. Despite this, the company continues to expand its product pipeline and has already integrated stablecoins in preparation for clearer regulations.