Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Brian Armstrong, chief executive officer at American cryptocurrency exchange behemoth Coinbase, has predicted that the price of Bitcoin could potentially reach $1 million.
Armstrong sees the largest cryptocurrency achieving this milestone by 2030.
Main catalysts
“We are starting to see regulatory clarity emerge in the US, which I think is a bellwether for the rest of the G20,” he said.
The GENIUS Act, which establishes a clear regulatory framework for stablecoins, was signed into law earlier this summer in the U.S.
Armstrong is hopeful that key market structure legislation will also be passed this year, which he believes would be a significant milestone.
He has emphasized that the lack of regulatory clarity is holding back institutions from allocating a bigger portion of their funds to Bitcoin.
The billionaire also recalled that it would be “crazy” for someone to suggest a few years ago that the U.S. would hold Bitcoin as part of its official strategic reserve. However, this is the reality now.
As reported by U.Today, Treasury Secretary Scott Bessent recently stated that the U.S. would not be buying more Bitcoin on top of the forfeited coins, but he then backtracked on this statement within the same day.
Armstrong has added that Coinbase provides services to a total of 240 government entities. “Govermemts are now getting more and more engaged in this,” he stressed.
The risk of governments shutting down Bitcoin has been “severely diminished,” Armstrong said.
Other $1 million predictions
Armstrong is not the only crypto luminary who has predicted that Bitcoin could potentially surpass the much-coveted $1 million milestone.
In May, Binance co-founder Changpeng Zhao forecasted that the flagship coin could reach seven figures during the current cycle.
As reported by U.Today, Galaxy CEO Mike Novogratz also sees Bitcoin hitting $1 million, potentially surpassing the market cap of gold, if the U.S. keeps printing money.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team