Bitcoin at $400K by 2030 Still 'Reasonable Target': Coinbase CEO

Coinbase chief executive Brian Armstrong told CNBC Squawk Box Asia that he still views a Bitcoin price of $400,000 by 2030 as a reasonable target, even though the cryptocurrency is trading below $80,000. He framed the outlook around Bitcoin’s four-year cycle, saying the market typically follows a period of rapid gains and euphoria followed by roughly a year-long downturn — a phase he believes has just concluded. Armstrong pointed to the next block halving, roughly 18 months away, as a common trigger for pre-halving run-ups and said he expects the next year or two to be positive for Bitcoin. Reaching $400,000 from current levels would represent roughly a fivefold gain in just over three years, he noted as context for the projection. The CEO also addressed the regulatory environment in Washington, saying Senate lawmakers are due to vote on the Clarity Act on September 15 and that, based on his conversations, the bill is positioned to win approval. He described broad support from law enforcement, many banks and crypto firms and said Coinbase’s prior objections to the bill have been resolved; a remaining negotiation concerns ethics rules for the president’s family interests. Armstrong added that even if the Clarity Act does not pass, he expects rulemaking from the SEC and CFTC or innovation exemptions under their existing authority, and he predicted regulatory clarity within about a month. He cited the Genius Act as an example of rapid industry adoption after legislation, saying more than 150 large companies integrated stablecoins within three months of that law’s passage. Coinbase has been preparing for the expanded market opportunities the legislation would enable. The company announced plans in June for tokenized stock trading with automatic dividends, contrasts its approach with rivals that offer derivatives or IOUs, and in May became the first U.S. exchange approved to offer crypto perpetual futures. Executives characterize the firm’s aim as becoming an “everything exchange.”