Coinbase CEO Says CLARITY Act Nears 'Finish Line' and Bitcoin Has 'Seen The Bottom'

Coinbase (NASDAQ:COIN) CEO Brian Armstrong told Bloomberg Thursday that Bitcoin (CRYPTO: BTC) has seen its cycle bottom and the Clarity Act is nearing the finish line.

What Armstrong Said About the Clarity Act

Armstrong told Bloomberg Television from the Global Fintech Fest in Mumbai that banks, law enforcement groups and crypto companies all endorse it ahead of the Sept. 15 Senate vote. 

He expressed confidence the bill would pass but added that even a failed vote would not leave the industry without clarity. 

“If it doesn’t pass, the SEC and the CFTC have said they’re ready to publish rulemaking,” Armstrong said. “We’re going to get regulatory clarity one way or another on the 15th or the day or two after,” he added.

He described passage of the CLARITY Act as a regulatory checkbox that could unlock institutional capital and pave the way for tokenized equities in the U.S., calling it “a big milestone” for the industry.

What Armstrong Said About Bitcoin

Armstrong noted that Bitcoin goes through four-year cycles and he personally believes the cycle bottom is already in. 

He expects Bitcoin to trend higher over the coming year or two as the next halving event approaches, while noting that crypto broadly is much bigger than Bitcoin alone, with stablecoin payments on Base growing 700% year over year and prediction markets growing 100% quarter over quarter on the Coinbase app.