In a dramatic and unexpected announcement, Coinbase CEO Brian Armstrong has given a jaw-dropping Bitcoin price prediction. He believes the world’s leading cryptocurrency could reach $1 million per unit by 2030. His rationale comes from a series of robust structural trends that are presently sweeping the marketplace.
Why Coinbase CEO Armstrong Is So Bullish
Coinbase CEO Armstrong, typically conservative with specific price goals, cited three considerations in support of his bullish Bitcoin price estimate
Supportive US Regulation: He urged having robust regulatory structures, like the proposed GENIUS Act. In his view, even stronger and clearer regulations will introduce the assurance necessary for a significant price rally.
Rampant Institutional Adoption: Institutions like Strategy and Metaplanet are continuously accumulating Bitcoin, considering it a strategic treasury asset. This institutional demand directly competes for the limited supply of Bitcoin.
Digital Scarcity: Armstrong pointed to Bitcoin’s finite amount of 21 million coins. With growing demand from institutional investors and new products (e.g., Fold’s forthcoming Bitcoin Rewards Credit Card), this inherent scarcity is a powerful price driver.
A Growing Chorus of Bullish Voices
Armstrong is not alone as an ultra-bull voice. Other prominent personalities, including Ark Invest’s Cathie Wood and former twitter CEO Jack Dorsey, have shared similar long-term Bitcoin price target estimates.
More recently, however, BitMEX co-founder Arthur Hayes has also predicted a massive rally, attributing this to potential shifts in US monetary policy. This growing consensus among industry experts adds strength to the possibility of Bitcoin reaching record-breaking valuations.
The Current Market Snapshot
At the time of writing, Bitcoin currently stands at around $112,466 after observing a minor 0.64% drop in the past 24 hours. Very far away from $1 million, the price at present is put into perspective by Armstrong’s forecast as a landmark on a much more extended curve. From the investor’s point of view, it highlights the importance of keeping an eye on long-term fundamentals over short-term prices.