Bitcoin News Today: Coinbase CEO Sees $1M Bitcoin by 2030 Amid Regulatory Clarity

Coinbase CEO Brian Armstrong has joined a growing chorus of crypto executives forecasting that Bitcoin could reach $1 million by 2030. In an interview with John Collison on the “Cheeky Pint” podcast, Armstrong cited improving regulatory clarity in the United States, particularly with the passage of the Genius Act and ongoing debates over the market structure bill in the Senate, as key factors supporting his bullish outlook [1]. He also pointed to the emergence of the concept of a U.S. Strategic Bitcoin Reserve, which, while once considered far-fetched, has gained traction in recent discussions.

Despite Armstrong’s long-term optimism, cryptocurrency analyst James McKay of McKay Research urged a more cautious approach. In a recent X post, McKay noted that Bitcoin had retreated to $112,676 after briefly hitting a record high of $124,128 earlier in the week [1]. “Let’s try and hold 124K first guys,” he wrote, highlighting the importance of securing a critical support level before moving toward higher targets.

McKay did not dismiss Armstrong’s prediction outright, acknowledging that it was not an unreasonable projection, particularly in light of Standard Chartered’s forecast of $500,000 by 2028 [1]. However, he emphasized that the immediate market environment presents challenges. These include potential delays in U.S. Federal Reserve rate cuts and the risk of a less crypto-friendly U.S. administration in the future, both of which could impact Bitcoin’s trajectory.

Armstrong’s $1 million prediction is not unique. Other industry figures, including ARK Invest CEO Cathie Wood and Twitter co-founder Jack Dorsey, have made similar forecasts for 2030. Wood, for example, outlined a “Bull Case” scenario in which Bitcoin could reach $1.5 million by the end of the decade [1]. Meanwhile, Galaxy Digital CEO Mike Novogratz has warned that if Bitcoin were to hit $1 million much sooner, it might signal underlying economic distress in the U.S. [1].

The differing perspectives reflect the ongoing debate within the cryptocurrency community about how to balance long-term optimism with short-term realism. While regulatory progress and institutional adoption offer strong tailwinds, the market remains highly volatile, and near-term stability is essential for sustained growth.

Bitcoin’s recent performance underscores this volatility. Over the past 30 days, the price has declined by 2.42%, according to CoinMarketCap [1]. In Indonesian Rupiah (IDR), Bitcoin is currently trading at approximately Rp1,854,622,136, with a 7-day range between Rp1,915,328,918 and Rp1,836,431,817 [2]. These fluctuations highlight the challenges investors face in maintaining confidence and managing expectations.

As the market navigates these dynamics, the focus on the $124,000 level serves as a practical benchmark. Armstrong’s call for patience aligns with broader analytical trends that emphasize incremental progress over speculative leaps. For now, the ability of Bitcoin to hold its recent high will likely determine whether the next phase of its rally can gain momentum.

Sources:

[1] Cointelegraph (https://www.tradingview.com/news/cointelegraph:181323a95094b:0-coinbase-ceo-sees-1m-bitcoin-but-let-s-hit-124k-first-analyst/)

[2] CoinGecko (https://www.coingecko.com/en/coins/bitcoin/idr)