Coinbase CEO Brian Armstrong stated that Bitcoin reaching $400,000 by 2030 remains a reasonable target. The asset is currently trading around $77,000. Armstrong believes the current market down cycle, which has lasted approximately one year, has reached its bottom after rising from around $60,000.
The executive expects regulatory clarity in the United States within a month, regardless of the outcome of the Clarity Act vote scheduled for September 15. He noted that the SEC and CFTC have indicated readiness to publish rulemaking and innovation exemptions under existing authority if the legislation fails.
Armstrong highlighted that the passage of the Clarity Act would enable the introduction of tokenized equities and perpetual futures for U.S. customers. Coinbase previously received approval in May to offer crypto perpetual futures and announced plans in June for tokenized stock trading with automatic dividends.
The company has faced financial challenges during the market downturn, resulting in a 14% reduction in staff and missed earnings targets in the second quarter. Despite this, Armstrong remains optimistic about the next 18 to 24 months for Bitcoin, citing the historical four-year cycle and upcoming halving events.
