Coinbase CEO Brian Armstrong believes Bitcoin could reach $1 million per coin by the end of this decade — but only if policymakers hold the line against bank lobbyists trying to choke the industry.
“I think Bitcoin could reach $1M by ~2030 based on current conditions and progress,” Armstrong posted The interview will be held on Thursday, September 9th. Fox Business.
Armstrong cited regulatory clarity, U.S. Government Bitcoin Reserves, and ETF Adoption as the key drivers of Demand.
He is optimistic as Congress works with There are two main pieces of crypto law: Genius ActEarlier this year the Clarity Act was signed by President Obama. establishes market structure For all assets other than stablecoins.
Armstrong, who is a Capitol Hill advocate and has been advocating the measure, described the legislation “historic” Bill Hagerty and Donald Trump (R-TN), who pushed the U.S. toward becoming You can also find out more about the following: “crypto capital of the world.”
Crypto exchanges as a ‘bank replacement’
The big banks, he said, are trying to stop progress. The latest goal is to ban rewards programs linked to bitcoin and stablecoins, as they threaten the lucrative industry of credit card rewards.
“Every company should be able to have reward programs, just like credit card points or airline miles,” ArmstrOn,g said on Fox Business. “For [the banks] to come in and try to ban that in the crypto industry is them trying to block their competition, I think most members of the Senate are not going to do a big bailout for the banks.”
It’s more than just rewards. Armstrong believes that the argument over rewards exposes a larger conflict between traditional financial institutions and crypto-powered, open rails.
The banks rely heavily on swipe fees and closed networks. Bitcoin and stablecoin payments provide instant settlement at lower costs. Allowing crypto rewards is a step toward normalizing an alternative financial infrastructure — one that doesn’t run through the big banks.
Armstrong says that Wall Street’s lobbying is a direct result of this. Armstrong, however, sees a shift in the direction of positive regulation as inevitable.
Coinbase aims to become more than just an exchange. Armstrong said that the company is building an “super app” The new generation of banks will offer trading, custody, payment, saving, and rewards in bitcoin.
“Ultimately we want to be a bank replacement for people. We want to be people’s primary financial account,” “He said”
“This article is not financial advice.”
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Source: bitcoinmagazine.com
