Coinbase CEO Brian Armstrong believes Bitcoin can reach $1 million per coin by the end of the decade, but only if policymakers hold boundaries against bank lobbyists trying to suffocate the industry.
“Bitcoin could reach $1 million by 2030 based on current conditions and progress,” Armstrong posted this week with an interview Fox Business.
Armstrong pointed to the clarity of regulations, US government Bitcoin reservations and ETF adoption as key factors in demand.
His optimism is the Genius Act, which was signed into law earlier this year, and the broader clearer law that establishes a market structure for all asstable assets, as Congress works in two main parts of the cryptographic law.
Armstrong, who has been roaming Capitol Hill to defend the measure, called the law “historical” and acknowledged that he turned President Donald Trump and Sen. Bilhagerty (R-TN) towards the “crypto capital of the world.”
Encryption is exchanged as a “bank exchange”
However, he warned that big banks were already trying to derail progress. Their latest goal: ban reward programs related to Stablecoins and Bitcoin that threaten the lucrative credit card compensation industry.
“All businesses should be able to have a rewards program just like credit card points and airline miles,” Armstrong said. Fox Business. “I don’t think most members of the Senate will make great relief for the banks because (the banks) come and try to ban them from trying to block competition in the crypto industry.”
The fight is deeper than the perks. For Armstrong, the remuneration debate reveals a larger dispute between legacy financial institutions and open crypto-driven rails.
Banks rely on closure networks and swiping fees. Stablecoins and Bitcoin payments offer immediate payments and cheaper costs. Allowing Crypto Rewards is a step towards normalizing alternative financial infrastructure. This is something that is not carried out through major banks.
That argues that Armstrong is exactly why Wall Street is lobbying so hard. However, Armstrong thinks this shift is inevitable.
Coinbase itself has more ambitions than exchanges. Armstrong explained that the company will build a “super app” that replaces legacy banks, offering trading, custody, payments, savings and Bitcoin-controlled rewards.
“In the end, we want to be a bank alternative for people. We want to be people’s main financial accounts,” he said.
The CEO of Postcoinbase says that if the bank first appeared in Bitcoin magazine and not written by Mikazaimaman, Bitcoin could reach $1 million by 2030.
