Bitcoin could reach $1 million by 2030 thanks to ETFs, government reserves, and a clear legal framework.
Brian Armstrong, the CEO of Coinbase – the largest cryptocurrency exchange in the US – asserts that Bitcoin could reach a price of $1 million in the next decade. This forecast comes amid converging favorable factors, from government involvement to a strong increase in institutional capital flow.
In a post on platform X on August 20, Armstrong emphasized: 'I believe we will see $1 million per Bitcoin by 2030. A clear legal framework is finally taking shape, the US government holds BTC reserves, and interest in crypto asset ETFs is increasing.'
The change in the US government regarding the consideration of establishing a strategic Bitcoin reserve is seen by the CEO of Coinbase as a significant turning point. This marks a dramatic shift from the previous cautious attitude of regulators towards digital assets.
Armstrong reveals that Coinbase currently provides cryptocurrency services to about 140 government agencies at all levels, from federal, state, and local to international. 'Governments are increasingly getting more involved in this space. You can imagine the huge capital pools globally,' he remarks.
Institutional capital flow and the role of ETFs
According to Armstrong's analysis, policy clarity will unlock massive capital flows from financial institutions. He shares: 'The large institutions I talk to are holding 1% of their portfolios in Bitcoin. When I ask what would happen if it increased to 5-10%, they reply that they just need legal clarity.'
Bitcoin exchange-traded funds (ETFs) are assessed by Armstrong to have created a 'huge impact' in expanding access to digital assets for institutional investors. Broader acceptance at the institutional level is seen as a key factor driving Bitcoin towards the $1 million mark.
The CEO of Coinbase also argues that risks once considered serious, such as government restrictions or protocol vulnerabilities, have significantly decreased. However, he emphasizes that upgrading the network to adapt to post-quantum cryptography is a top priority to maintain security.
Armstrong's bold forecast reflects optimism about Bitcoin's future amid an increasingly favorable regulatory environment and growing acceptance from traditional financial institutions.
