Brian Armstrong, CEO of Coinbase Global Inc. (NASDAQ:COIN), predicted Wednesday that Bitcoin (CRYPTO: BTC) could hit $1 million by 2030, citing growing regulatory clarity in the U.S.
Why Armstrong Thinks BTC Will Hit $1 Million
During an interview with Stripe co-founder John Collison, Armstrong was asked about Bitcoin’s 10-year growth projection.
“The rough idea I have in my head is, we’ll see a million-dollar Bitcoin by 2030, and there’s high error bars around these things,” he responded.
The cryptocurrency mogul attributed his optimism to increased regulatory clarity in the U.S., which he labeled as a “bellwether” for the rest of the G20 nations.
“You have the GENIUS Act passed for stablecoins, but this market structure bill is being debated in the Senate. Fingers crossed something could happen by the end of this year,” Armstrong said.
He also mentioned the significance of a Strategic Bitcoin Reserve, stating, “If they do that, which there’s now an executive order to do, a bunch of other countries are going to do that.”
See Also: Buckle Up Dollar Bulls, China Is Reportedly Considering Its Own Yuan-Linked Stablecoins
Armstrong Sees BTC Becoming The World’s Reserve Currency
Armstrong has been a strong advocate of Bitcoin and believes it could become the world’s new reserve currency, pointing to mounting global deficits and rising economic uncertainty as catalysts for a shift away from fiat systems.
His forecast comes after Anthony Scaramucci, founder and CEO of SkyBridge Capital, maintained a year-end Bitcoin target between $180,000-$200,000.
Meanwhile, Bill Miller IV, chairman and CIO of Miller Value Partners, suggested that Bitcoin could reach $175,000 due to potential investments from global retirement accounts.
Price Action: At the time of writing, BTC was exchanging hands at $114,002, up 0.43% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has gained nearly 22%.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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