Coinbase’s CEO, Brian Armstrong, envisions a future where Bitcoin could potentially hit the $1 million mark per coin by the close of this decade. However, he stresses that this can only happen if policymakers resist pressure from banking lobbyists who aim to stifle the industry.
“Given current trends and advancements, I believe Bitcoin might reach $1M around 2030,” Armstrong shared in an interview with Fox Business earlier this week.
Armstrong highlighted several factors driving demand: regulatory transparency, U.S. government holdings of Bitcoin reserves, and the adoption of ETFs.
This optimism coincides with Congress’s efforts on two significant crypto-related bills: The Genius Act—establishing rules for stablecoins—was enacted earlier this year; meanwhile, the broader Clarity Act outlines market structures for all non-stablecoin assets.
Having actively advocated for these measures on Capitol Hill, Armstrong described them as “historic” achievements. He acknowledged President Donald Trump and Senator Bill Hagerty (R-TN) for their roles in steering America towards becoming a global leader in cryptocurrency innovation.
The Role of Crypto Exchanges as Alternatives to Banks
However, he cautioned that major banks are already attempting to thwart progress. Their latest move involves targeting rewards programs linked to stablecoins and bitcoin due to their potential threat against profitable credit card reward schemes.
“Every business should have access to reward programs similar to credit card points or airline miles,” Armstrong stated during his appearance on Fox Business. “For banks trying ban such initiatives within crypto is merely blocking competition; most senators aren’t likely inclined toward bailing out big banks.”
The issue extends beyond mere perks according-to-Armstrong—the discussion surrounding rewards highlights deeper tensions between traditional financial institutions versus open blockchain-powered systems like cryptocurrencies offer cheaper costs through instant settlements without relying closed networks swipe fees typically associated legacy finance models while normalizing alternative infrastructures independent large-scale banking entities becomes more feasible over time despite Wall Street’s lobbying efforts suggesting otherwise inevitable shift occurring naturally anyway!
Aiming expand its role beyond just being exchange platform alone now describes itself building ‘super app’ capable replacing conventional bank functions altogether encompassing trading custody payments savings alongside offering bitcoin-denominated incentives ultimately striving become primary financial account individuals rely upon daily basis going forward!