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.
- Binance founder Changpeng Zhao believes Bitcoin could become a strategic reserve asset.
- Glassnode reported that US spot Bitcoin ETFs are approaching their break-even point.
- Polymarket data suggests a 64% chance of Bitcoin reaching $85,000 by December 31, 2026.
Coinbase CEO Brian Armstrong reiterated his belief that Bitcoin could reach $400,000 by 2030, a target he described as reasonable. Armstrong cited several factors supporting this outlook, including potential regulatory clarity through initiatives like the CLARITY Act, pressure from the White House on regulators, increased demand for spot Bitcoin ETFs, and the cryptocurrency's inherent scarcity with a fixed supply of 21 million coins. He also suggested that Bitcoin has likely found its bottom and anticipates upward movement, particularly amid global bond market pressures.
Armstrong's current $400,000 target is a revision from his earlier prediction of $1 million by 2030. He also expressed a strong likelihood of Bitcoin reclaiming the $100,000 mark by the end of 2026.
Meanwhile, Binance founder Changpeng Zhao, also known as CZ, expressed optimism about Bitcoin's future, suggesting it could surpass gold as a strategic reserve asset, a transition he believes governments will gradually embrace. He also commented on market timing, stating, "The market gives you plenty of opportunities to enter (or exit). All you have to do is to make the right decisions."
On-chain data from Glassnode indicates that US spot Bitcoin ETFs are nearing their break-even price levels. The report suggests that institutional cost basis currently acts as a resistance level for Bitcoin's price, and a sustained break above this band could trigger significant institutional capital inflows into these ETFs. Additionally, Coinbase's 30-day moving average premium has recovered from negative territory.
Polymarket, a prediction market, shows that participants anticipate Bitcoin reaching $85,000 by December 31, 2026, with 64% of bets supporting this outcome. The current Bitcoin price is trading around $78,000, with investors awaiting key US inflation data (CPI and PPI) and observing rising odds of a Federal Reserve rate hike.