Coinbase CEO Brian Armstrong was asked in an interview about his growth forecast for Bitcoin over the next 10 years, and he believes Bitcoin will surge to $1 million by the end of this decade.
Armstrong pointed out that, "the rough idea in my mind is that by 2030, the price of Bitcoin could reach $1 million, but such predictions come with a high degree of uncertainty."
As of the time of writing, Bitcoin's price is close to $114,000, having risen 21.94% year-to-date. This means that to reach Armstrong's target price, Bitcoin still has 777% growth potential.
Armstrong has always been a strong supporter of Bitcoin. The cryptocurrency giant attributes his super optimistic attitude towards Bitcoin to the increasingly lenient and clear U.S. regulatory policies, and he views the new policies enacted by the new government as a "barometer" for other G20 countries.
Armstrong stated that "Trump has already signed the (Genius Act) regarding stablecoins, and another bill regarding market structure (Clarity Act) is also under review by the Senate, hoping for progress before the end of the year."
Additionally, he mentioned the importance of establishing a strategic Bitcoin reserve, noting that Trump has signed an executive order to create a strategic Bitcoin reserve, and it is expected that many other countries will follow suit.
Armstrong firmly believes that Bitcoin could potentially become the new reserve currency of the world. He pointed out that "the increasing global fiscal deficit and the growing economic uncertainty are driving forces for people to shift 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 potential investments from global retirement accounts, the price of Bitcoin could rise to $175,000.
