Coinbase CEO Brian Armstrong says Bitcoin reaching $400,000 by 2030 remains a “reasonable target,” even as BTC trades near $77,000 and struggles against higher interest rates and renewed institutional outflows.
Speaking in a CNBC interview, Armstrong said he believes Bitcoin has already reached the bottom of its latest cycle and that the next one to two years could be considerably stronger.
At current prices, $400,000 would represent roughly a 5.2x increase.
But the prediction is also notable for another reason: Armstrong was considerably more bullish last year.
Armstrong’s $1 Million Call Becomes $400K
In 2025, the Coinbase chief said Bitcoin could reach $1 million by around 2030, citing regulatory clarity, government adoption and institutional demand through ETFs. His latest $400,000 target is therefore substantially more conservative, although Armstrong has not published a valuation model explaining the change.
His underlying thesis, however, remains bullish.
Armstrong pointed to Bitcoin’s historical four-year cycle, arguing that periods of euphoria have typically been followed by roughly a year of weakness. With the latest downturn now around that age, he said he personally believes “the bottom is in.”
That echoes his earlier view highlighted in our coverage of Bitcoin’s rebound from $60K, when Armstrong said the market may have already established its cycle low.
Halving and Regulation Are the Next Catalysts
Armstrong also pointed to the next Bitcoin halving, expected in roughly 18 months, noting that Bitcoin has historically seen strong periods around its supply-cutting cycles.
Regulation may be even more immediate.
The Senate is preparing for a key Sept. 15 CLARITY Act vote, and Armstrong said the industry should gain more regulatory certainty whether Congress passes the legislation or regulators move ahead through SEC and CFTC rulemaking.
Institutional demand remains another major piece of the bull case. Bitcoin ETFs recently attracted about $3 billion during a nine-day inflow streak, although flows have since turned negative.
That reversal illustrates the gap between Armstrong’s long-term prediction and Bitcoin’s short-term setup.
BTC is currently near $77,000, while the 10-year Treasury yield remains close to 5% and investors are waiting for fresh inflation data.
