Bitcoin as Digital Gold: Coinbase CEO's $1M 2030 Forecast Backed by Regulatory Progress

Coinbase CEO Brian Armstrong has reiterated his bold projection that Bitcoin could reach $1 million per coin by 2030, a forecast he attributes to regulatory clarity, institutional adoption, and evolving market dynamics. Speaking on multiple platforms, including the Cheeky Pint podcast and FOX Business, Armstrong emphasized that regulatory progress in the U.S., such as the GENIUS Act for stablecoin oversight and pending market structure legislation, is a “major milestone” for crypto’s long-term growth title1^[1]. He also highlighted the U.S. government’s recent executive order establishing a strategic Bitcoin reserve, a development he previously deemed “unthinkable” title2^[2]. Armstrong argued that such moves could spur global adoption, with other G20 nations likely to follow the U.S. example title3^[3].

Institutional interest in Bitcoin is another key driver of Armstrong’s optimism. He noted that large funds currently allocate about 1% of their portfolios to Bitcoin, a figure he expects to rise as regulatory frameworks solidify. The launch of spot Bitcoin ETFs in early 2024, including those from BlackRock and Fidelity, has further normalized crypto as an asset class, attracting $58 billion in assets under management by Q2 2025 title4^[4]. Armstrong also pointed to Coinbase’s role in powering 80% of Bitcoin ETFs, signaling strong institutional demand title1^[1]. Additionally, the firm’s recent expansion into government services—now partnering with 145 U.S. and 29 international entities—underscores growing trust in crypto infrastructure title6^[6].

Armstrong’s prediction aligns with broader industry sentiment. Former Twitter CEO Jack Dorsey and Ark Invest’s Cathie Wood, who revised her 2030 target to $3.8 million, have also endorsed aggressive Bitcoin valuations. Wood cited institutional adoption as a primary catalyst, while Dorsey emphasized Bitcoin’s potential as a hedge against inflation title2^[2]. Meanwhile, Anthony Scaramucci of SkyBridge Capital projected a shorter-term target of $180,000–$200,000 within five months, though such forecasts remain speculative title2^[2]. Armstrong cautioned that Bitcoin must first retest and hold its all-time high of $124,000 before pursuing loftier targets title4^[4].

The CEO also addressed risks, including quantum computing threats to the Bitcoin protocol, but noted that developer communities are already exploring post-quantum solutions. He downplayed concerns about regulatory crackdowns, stating that the likelihood of a U.S. government shutdown of crypto has “severely diminished” title5^[5]. Armstrong reiterated his support for self-custody of crypto, though he warned users of the responsibilities involved title1^[1].

Coinbase’s strategic vision extends beyond price forecasts. The firm is pursuing a “super app” model, offering financial services like payments and rewards, and recently launched a 4% Bitcoin rewards program. Armstrong’s broader ambitions reflect a belief that Bitcoin could evolve into a global reserve asset, akin to digital gold, if governments and institutions continue to build exposure title3^[3].