Bitcoin Surpasses $72,000 as Coinbase CEO Predicts Crypto Bull Run
Coinbase CEO Brian Armstrong believes the crypto market is poised to enter its next bull run after Bitcoin surpassed $72,000. In a recent CNBC interview, Armstrong pointed to the upcoming Senate vote on the CLARITY Act as a catalyst for growth.
The bill is set to be voted on September 15, with Armstrong predicting it will secure more than 60 Senate votes. He attributed some of his optimism to the White House's proposal to address ethics concerns surrounding President Donald Trump's crypto investments.
Armstrong also noted that Bitcoin's current downturn may be a bullish signal, as previous bear markets have lasted around 370-380 days. This could indicate that the market is nearing a turning point.
Coinbase has been expanding its business beyond traditional crypto trading, with Armstrong highlighting the growth of its derivatives and stablecoin offerings. The company also plans to launch tokenized equities in Abu Dhabi for international customers.