Key Takeaways:
Coinbase CEO Brian Armstrong has reignited one of the most ambitious price targets in crypto history. Posting on X (formerly Twitter), he said Bitcoin could reach $1 million per coin by around 2030 if current conditions continue. His statement adds fuel to an already heated debate about how far Bitcoin can go as it cements itself as a global asset.
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Armstrong is usually cautious when it comes to making specific predictions, but this time he delivered a clear call: “I think Bitcoin could reach $1M by ~2030 based on current conditions and progress. Think long-term.”
He points to several major forces shaping the market:
Armstrong even gave a suggestion of a situation when governments will start to keep Bitcoin reserves. In case the U.S. or any other large power publicly gathers BTC, this may cause a domino effect in all other countries.
The scarcity of Bitcoins which is limited at 21 million coins is the basis of the bullish position of Armstrong. Bitcoin provides digital scarcity unlike fiat currencies which can be debasemined by printing money.
Armstrong and other Bitcoin supporters state that as the world faces inflation and more deficits as well as diminished faith in fiat, investors will automatically consider using BTC to save their money.
Jack Dorsey has even said that by 2030, Bitcoin will reach at least a million dollars, and ARK Invest has given even greater long-term projections than this. Michael Saylor still considers Bitcoin to be a digital property, and MicroStrategy has more than 200,000 BTC on its balance sheet.
The common denominator in these voices is obvious: scarcity and adoption will result in exponential upside.
While Armstrong’s $1M target excites the market, analysts warn the path will be anything but smooth. Bitcoin remains extremely volatile. Just this year, BTC briefly dipped below $112,000 after a wave of liquidations, despite posting a 77% gain year-over-year.
Critics argue that Armstrong’s optimism could overlook risks:
Even Armstrong realized the value of long-term thinking and not to get bothered by the fluctuations in the short term. In the case of retail investors, that would imply going into the turbulence even when the long run course would be appealing.
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Armstrong does not see the vision behind the price of Bitcoin. His vision is to transform Coinbase into a super application of financial services, with payments and rewards, among others. The company has even already introduced 4 percent Bitcoin rewards to select users which places it at the heart of crypto adoption.
He stands behind self-custody but he cautioned against the burden that it comes with: being deprived of personal keys is being deprived of assets forever. In the case of Coinbase, the freedom of its users and the security of its infrastructure will be the key to the next wave of adoption.
It is still unclear whether Bitcoin will be valued at $1 million in 2030. But Armstrong is not alone in making this prediction, as a discussion about this topic already is taking off on Wall Street and Silicon Valley.
To date, there is one thing that is clear: the age of Bitcoin being a dismissed fringe asset has passed. The question of whether Bitcoin has a future or not is no longer a debate on whether it will have a future, but the question will be how big that future will be.
The post Bitcoin $1M by 2030? Coinbase CEO Brian Armstrong Sparks Controversy appeared first on CryptoNinjas.
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