Bitcoin hits 7-month high as Coinbase CEO sees $300,000 to $400,000 by 2030

Bitcoin surged above $84,000 on Monday, reaching a 7-month high, as Coinbase Global CEO Brian Armstrong said the cryptocurrency could reach $300,000 to $400,000 by 2030. Armstrong said Bitcoin's recent drop to $60,000 may have marked the bottom of the latest cycle. He said Bitcoin's historical pattern has involved rallies around halving events followed by downturns lasting roughly a year, and he told Scott Melker in a Sep. 20 interview that Bitcoin had recently gone through such a period. Armstrong said stablecoins, perpetual futures, prediction markets and AI-powered finance are continuing to grow regardless of Bitcoin's short-term swings. He said AI could create another major use case for blockchain payments as systems move from answering questions to completing tasks that require spending money. Coinbase is building infrastructure around its Base blockchain, USDC and the x402 payment protocol. Armstrong's comments followed the Senate's failure to advance the Clarity Act, which set back efforts to establish a permanent U.S. crypto market structure framework. He said Coinbase supported the latest draft after lawmakers addressed four concerns previously raised by the company, but he would assume the legislation was dead unless lawmakers revived it. Armstrong expects the SEC and CFTC to use existing authority to develop rules for tokenized equities, perpetual futures and other crypto products. He also identified the SEC's innovation exemption as a possible route for bringing tokenized stocks to U.S. investors. Armstrong said Coinbase wants to tokenize private companies, Treasuries, investment funds and other assets, in addition to publicly traded stocks. He said tokenized equities could offer 24/7 trading, global access and easier settlement while preserving rights tied to the underlying shares. He also expects perpetual futures to gain traction in the United States because they combine around-the-clock trading with leverage.