Coinbase CEO Brian Armstrong predicts Bitcoin to hit $1 million by 2030

• Coinbase CEO Brian Armstrong predicts Bitcoin will reach $1 million by 2030.
• U.S. regulations like the GENIUS Act and Bitcoin reserve plans drive his optimism.
• Bitcoin’s recent dip to $113,200 follows a high of $124,400, with volatility tied to economic events.

Coinbase CEO Brian Armstrong made waves today with a bold prediction that Bitcoin could hit $1 million by 2030.

Speaking on the “Cheeky Pint” podcast with Stripe co-founder John Collison, Armstrong shared his thoughts, which he later posted on X. He pointed to growing U.S.regulations and global interest in Bitcoin as key reasons for his optimism. Bitcoin is currently trading at $113,200 after a recent high of $124,400.

Bitcoin Forecast and Market Developments

Armstrong believes the U.S.is leading the way for other G20 countries with steps like the GENIUS Act for stablecoins and a market structure bill under discussion in the Senate. He also mentioned the U.S.building a Bitcoin reserve, which he sees as a game changer.

Armstrong thinks Bitcoin could become a global reserve currency as trust in traditional money weakens due to rising deficits. His forecast is joined by others such as Jack Dorsey, Cathie Wood, and Changpeng Zhao, who also anticipate Bitcoin to hit $1 million in 2030.

However, analyst James McKay from McKay Research cautioned investors to stay grounded, noting Bitcoin needs to hold $124,000 first. He added that Standard Chartered predicts $500,000 by 2028, so Armstrong’s forecast isn’t too far fetched.

Bitcoin has been shaky lately, dropping after major economic events like the U.S.FOMC Meeting Minutes. And upcoming remarks from Federal Reserve Chair Jerome Powell. In spite of that, Armstrong’s statements are increasing investor optimism.

The increase in popularity of Bitcoin ETFs and more transparent U.S.rules are also creating optimism about the future of the cryptocurrency. While the $1 million mark seems distant, Armstrong and others see Bitcoin’s limited supply and rising demand as key drivers for big growth in the coming years.