Brian Armstrong, CEO of Coinbase, one of the world’s largest cryptocurrency exchanges, has thrilled the crypto community by making bold predictions about the future value of Bitcoin.
Armstrong predicts that by 2030, major cryptocurrencies could reach $1 million, given the current market conditions and advances.
Armstrong urged investors to “think in the long term” and explained the key rationale behind their ambitious targets in an interview with Fox Business.
Coinbase CEO said there are “major support factors” that will increase the value of Bitcoin, and based on his predictions based on three key factors.
- Regulation Clarity: Armstrong said the clarity of new regulations in the cryptocurrency market is a major factor. He said the absurd “genius law” in the United States and the broader market structure law currently being discussed in the Senate will be an important turning point for the industry.
- Institutional Money Flow (Bitcoin ETF): He noted that the recent launch of Bitcoin Exchange Funds (ETFs) has accelerated the institutional capital flows into Bitcoin. Armstrong added that Coinbase is running around 80% of the market’s ETFs and believes this trend will continue.
- US Strategic Reserve: As the US government begins to hold “Strategic Bitcoin Reserve,” he proposed, suggesting that “substantially increasing” demand and other G20 countries will likely follow suit.
*This is not investment advice.
