Coinbase CEO stated that a price of $400,000 for Bitcoin by 2030 is still a reasonable target

According to Decrypt, Coinbase CEO Brian Armstrong stated in an interview with CNBC Squawk Box Asia that a Bitcoin price of $400,000 by 2030 is still a "reasonable goal," despite the current BTC price being around $77,000. He cited the four-year cycle pattern of Bitcoin, noting that the current downturn has lasted about a year, and said, "I personally believe that the bottom of this cycle for Bitcoin has already occurred." He also mentioned that typically there is a price increase before Bitcoin halving, which is expected to occur in about 18 months, stating, "The next one or two years will be a good time for Bitcoin."

On the regulatory front, Armstrong is more optimistic about progress in Washington. The U.S. Senate will vote on the Clarity Act on September 15, and he stated that the bill is "ready to pass," with support from law enforcement agencies, several banks, and crypto companies, and the objections previously raised by Coinbase have been resolved. The remaining disagreement concerns the ethical rules regarding the president's family's crypto business, and negotiations are close to reaching a solution. Armstrong expects that regardless of whether the bill passes, there will be regulatory clarity within a month, as the SEC and CFTC have indicated they are ready to issue rules and innovation exemptions based on existing authority.

He also cited last year's Genius Act as an example, stating that within three months of the bill's passage, over 150 large companies integrated stablecoins. If the Clarity Act passes, U.S. customers will be able to access tokenized stocks and perpetual contracts.