Coinbase CEO Armstrong calls $400,000 Bitcoin by 2030 reasonable

Coinbase CEO Brian Armstrong called a $400,000 Bitcoin price by 2030 a reasonable target. Armstrong believes Bitcoin has reached the bottom of its latest cycle after roughly a year of weakness. Armstrong expects regulatory developments to support the market over the coming years. Armstrong expects the next Bitcoin halving to support the market. Armstrong said the proposed Clarity Act could establish clearer U.S. rules for digital assets. Armstrong said the bill could protect consumers. Armstrong said the bill could support domestic crypto development. Armstrong cited bipartisan negotiations. Armstrong cited support from law enforcement groups, banks and crypto companies. Armstrong expects greater regulatory clarity even if Congress does not pass the bill. Armstrong said the SEC and CFTC could issue rulemaking and innovation exemptions under their existing authority. Armstrong said more than 150 large companies integrated stablecoins within three months of the GENIUS Act passing. Armstrong believes broader crypto rules could remove a barrier for institutional investors. Armstrong said those rules could unlock institutional capital. Armstrong said those rules could bring tokenized equities and perps to the United States. Armstrong said regulated stablecoins create structural demand for U.S. Treasury bills. Armstrong argued that excessive government spending can push capital toward Bitcoin. Armstrong described Bitcoin as a digital version of gold. Needham analyst John Todaro said crypto has bottomed. Todaro said cooling enthusiasm for AI stocks could allow capital to rotate back into crypto. Todaro said much of the selling pressure had already moved through digital assets. Todaro said Bitcoin miners sold more Bitcoin in the first half of 2026 than during any other period. Todaro said sentiment among retail investors had fallen to unusually weak levels. Todaro said sentiment among institutional investors had fallen to unusually weak levels. Todaro said sentiment among crypto-native investors had fallen to unusually weak levels. Needham's proprietary sentiment index reached its weakest levels since 2022 and 2023. Todaro said those levels historically correspond closely with market bottoms. Todaro expects Bitcoin to recover. Todaro said returning to previous highs could take time. Todaro described the current stage as the first stage of a move toward higher highs. Todaro said returning market activity would benefit Coinbase. Todaro also said returning market activity would benefit Robinhood Markets. Coinbase had a 6.95% weight in the Corgi Crypto Infrastructure ETF. Coinbase had a 3.94% weight in the ARK Innovation ETF. Coinbase had a 4.94% weight in the ARK Blockchain & Fintech Innovation ETF. Coinbase Global shares were down 0.49% at $173.86 in premarket trading on Thursday, according to Benzinga Pro data.