On August 21, the Financial Association reported (editor Zhou Ziyi) that Coinbase CEO Brian Armstrong was asked about his growth predictions for Bitcoin over the next 10 years; he believes that Bitcoin will surge to $1 million by the end of this decade.
Armstrong noted, 'The rough idea in my mind is that by 2030, the price of Bitcoin could reach $1 million, but such predictions carry a great deal of uncertainty.'
As of the time of publication, the price of Bitcoin is close to $114,000, having risen 21.94% year-to-date. This means that to reach Armstrong's target price, Bitcoin still has a growth potential of 777%.
Policy Support
All along, Armstrong has been a strong supporter of Bitcoin. The cryptocurrency giant attributes his super optimistic attitude towards Bitcoin to the increasingly lenient and clear regulatory policies in the United States, and he views the new policies enacted by the new government as a 'weather vane' for other G20 countries.
Armstrong stated, 'Currently, Trump has signed the (Genius Act) regarding stablecoins, and another bill concerning market structure (Clarity Act) is also being reviewed by the Senate, hoping for some progress before the end of the year.'
Additionally, he mentioned the importance of establishing a strategic Bitcoin reserve, pointing out that Trump has signed an executive order to establish a strategic Bitcoin reserve, and many other countries are expected to follow suit.
Armstrong firmly believes that Bitcoin could potentially become the world's new reserve currency, pointing out that 'the increasing global fiscal deficit and growing economic uncertainty are driving forces pushing people from the fiat currency system to Bitcoin.'
Before Armstrong made this astonishing prediction, Anthony Scaramucci, founder and CEO of SkyBridge Capital, stated that the expected target price for Bitcoin by the end of the year would be between $180,000 and $200,000.
Meanwhile, Bill Miller IV, chairman and chief investment officer of Miller Value Partners, stated that due to the potential investments from global retirement accounts, the price of Bitcoin could rise to $175,000.