Coinbase CEO Sees Bitcoin Soaring Beyond $300K by 2030

Coinbase CEO Brian Armstrong believes that Bitcoin will reach between $300,000 and $400,000 by 2030. According to him, the current cycle for BTC may have already reached its bottom, as it follows historical patterns of corrections after halving events.

Armstrong stated that Bitcoin's drop to $60,000 could mark the end of the contraction period, which typically lasts around one year following a halving event. This means that the crypto market is likely on the verge of an upward trend.

In addition to his prediction for Bitcoin's price, Armstrong also outlined Coinbase's vision for the future. The company aims to tokenize everything, including shares of private companies, Treasury bonds, and investment funds. Tokenized assets would allow users to operate 24/7 from anywhere in the world with more efficient settlement and without losing their rights tied to the underlying asset.

Armstrong also addressed the issue of Congressional legislation for the crypto market. Despite the failure of the Clarity Act, he stated that Coinbase will operate under the assumption that the legislation is off the table. He believes that the SEC and CFTC will use their existing regulatory powers to advance rules on tokenized equities, perpetual futures, and other crypto products.