Coinbase CEO Brian Armstrong told CNBC that BTC at $400,000 by 2030 remains a “reasonable target,” from below $80,000 today.
Armstrong said he believes the current down cycle has bottomed out, having lasted about a year.
He expects regulatory clarity within a month whether or not the Clarity Act passes on September 15.
Coinbase Chief Executive Brian Armstrong maintains that Bitcoin will reach $400,000 by 2030, a target he described as “reasonable” during an appearance on CNBC Squawk Box Asia on Thursday, even as the cryptocurrency currently trades near $77,000.
BitcoinBTC · USD
$77,288−4.05%
24H7D1M1YYTD
Sep 3Sep 5Sep 7Sep 8Sep 10
$81.8k$80.1k$78.5k$76.9k
24h HighHigh$79,351
24h LowLow$76,748
VolVol$1.3B
Market projectionsOdds by Myriad
Armstrong further noted that historical patterns indicate price surges typically precede Bitcoin halving events, with the next one anticipated in approximately 18 months. “I believe the next year or two will be favorable for Bitcoin,” he stated.
Achieving a valuation of $400,000 would require a fivefold increase in just over three years. The prolonged market downturn has already forced Coinbase to reduce its workforce by 14%, and the company recently missed its second-quarter earnings targets due to declining trading volumes.
Waiting on Clarity
Armstrong expressed greater confidence regarding the legislative landscape in Washington. With the Senate set to vote on the Clarity Act on September 15, he stated that based on his conversations, the bill is “ready to get a yes vote.” He noted that law enforcement agencies, major banks, and cryptocurrency companies are supportive, and that the objections previously raised by Coinbase have been addressed.
The primary remaining obstacle involves ethics regulations concerning the president’s family cryptocurrency investments. While the White House has proposed a measure Armstrong described as “unprecedented” for a sitting president, Democrats are advocating for divestiture. He noted that negotiations are ongoing and nearing a resolution, though he characterized the final deliberations as “a little above our pay grade.”
However, users of the prediction market Myriad—owned byDecrypt‘s parent company, Dastan—remain skeptical of his optimism. They currently assign only a 17% probability to the Clarity Act being enacted into law in 2026.
Myriad: Will the Clarity Act be signed into law in 2026? Click to make your prediction.
According to Armstrong, a legislative failure would not significantly impact the industry, as both the SEC and CFTC have indicated they are prepared to publish rulemaking and innovation exemptions under their existing authorities. Regardless of the outcome, he anticipates regulatory clarity within a month.
He pointed to last year’s Genius Act as a precedent, highlighting that over 150 major companies integrated stablecoins within three months of its passage. He added that enacting the Clarity Act would similarly introduce tokenized equities and perpetual futures to U.S. customers.
Coinbase has been actively pursuing both avenues regardless of legislative timelines. In June, the company outlined plans for tokenized stock trading featuring automatic dividends, which Armstrong contrasted with competitors offering “some form of derivative or IOU,” alongside options for both cryptocurrencies and equities. In May, it became the first U.S. exchange approved to offer crypto perpetual futures. Executives describe the company’s broader ambition as becoming the “everything exchange.”
