Coinbase CEO Brian Armstrong reaffirmed his $400,000 Bitcoin price target for 2030 in a Sep. 10 interview, arguing the current down cycle has already bottomed near $60,000. He pointed to the CLARITY Act, rising government debt, and the 2028 halving as catalysts that could drive the next leg up.
Coinbase CEO Brian Armstrong reaffirmed his Bitcoin price target of $400,000 by 2030 in an interview published Sep. 10. According to TheStreet: "the bottom is in on Bitcoin in this most recent cycle", Armstrong said, pointing to a recovery from support near $60,000.
Bitcoin's cycle may have already bottomed
Armstrong said Bitcoin tends to follow a roughly four-year market cycle of a rally, a period of euphoria, and a longer correction. The current down period has lasted about a year, matching the typical length of past downturns. Bitcoin was trading at $77,706 at press time, having recovered from the $60,000 area.
CLARITY Act seen as a regulatory checkbox
The pending CLARITY Act is another factor Armstrong flagged, since it would establish clearer U.S. regulatory rules for crypto. He said passage of the bill could unlock additional institutional capital by giving banks and asset managers clearer guidance, potentially bringing tokenized equities to the U.S. market.
Rising government spending and debt markets also support the case, Armstrong said, since spending getting out of control tends to push capital back into scarce assets like Bitcoin. Regulated stablecoins have become structural buyers of U.S. government debt since the GENIUS Act, which he said helps push down interest rates, a role for stablecoins he sees growing.
Next halving still seen as a catalyst
The next Bitcoin halving is expected in about a year and a half, another potential driver Armstrong cited, noting Bitcoin has historically risen in the run-up to past halving events.
Source: TheStreet
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