Key facts
- Coinbase CEO Brian Armstrong believes Bitcoin could reach $400,000 by 2030.
- Armstrong cited regulatory clarity, ETF demand, and Bitcoin's fixed supply as reasons for potential upside.
- He expects regulatory clarity within a month, whether or not the Clarity Act passes.
- Armstrong believes the current Bitcoin down cycle has bottomed out after about a year.
- US spot Bitcoin ETFs are approaching their break-even price levels, according to Glassnode.
Coinbase CEO Brian Armstrong reiterated his belief that Bitcoin could reach $400,000 by 2030, calling it a "reasonable target" even as the cryptocurrency trades around $77,000. Armstrong suggested that the current down cycle for Bitcoin has bottomed out, having lasted about a year, and anticipates upward movement, particularly ahead of the next halving event in approximately 18 months.
Armstrong expressed confidence in regulatory clarity, expecting developments within a month regardless of the Clarity Act's passage on September 15. He noted that many stakeholders, including law enforcement and banks, support the act, and previously raised objections have been resolved. Even without the act, he believes the SEC and CFTC are prepared to publish rulemaking under existing authority.
On-chain data from Glassnode indicates that US spot Bitcoin ETFs are nearing their break-even price levels, suggesting that institutional cost basis may act as a resistance level. Binance founder Changpeng Zhao also shared optimism, suggesting Bitcoin could surpass gold as a strategic reserve asset.
Meanwhile, users of the prediction market Myriad, owned by Decrypt's parent company Dastan, are less optimistic about the Clarity Act, assigning it only a 17% chance of being signed into law in 2026.