400,000 BTC by 2030: Coinbase CEO Says It's 'Reasonable'

Coinbase CEO Brian Armstrong recently appeared on CNBC's Squawk Box Asia to discuss the Clarity Act and what regulatory clarity could mean for the crypto industry. He also explained why the Bitcoin trade has already bottomed out and is looking for upside despite pressure in global bond markets.

When asked whether he still believes Bitcoin could reach $400,000 by 2030 given that the largest cryptocurrency currently trades below $80,000, Armstrong answered in the affirmative, saying, "I do think that that's a reasonable target by 2030."

Armstrong explained his long-term bullish outlook on Bitcoin, citing technical factors and regulatory progress that could boost its price in the coming years. He also alluded to the upcoming halving event as something that could boost Bitcoin's price ahead.

The Coinbase CEO explained why he believes the bottom might be in for Bitcoin, citing the Bitcoin price cycle: "If you follow crypto, it typically will go through these 4-year-ish cycles. There'll be a run-up, some euphoria, there'll be a down period. Most of the down periods last about a year. We've actually just come across the 1-year mark for this down period. I personally believe that the bottom is in on Bitcoin in this most recent cycle."