Coinbase CEO Brian Armstrong is the latest crypto leader to forecast Bitcoin hitting $1 million by 2030, but one analyst cautions against premature optimism as Bitcoin slid to $112,676 this week, down 9% from its record high.
The US serves as a “leading indicator for the rest of the G20”
“I roughly expect Bitcoin to reach $1 million by 2030,” Armstrong told John Collison on Wednesday’s episode of the Cheeky Pint podcast.
He cited several factors supporting his prediction, including the emergence of clearer regulations in the United States, which he described as a “bellwether for the rest of the G20.”
Armstrong pointed to the recently passed Genius Act for stablecoins and the market structure bill, which is still “being debated” in the Senate.
“Fingers crossed something could happen by the end of this year—that would be a huge milestone,” he said. He also highlighted the US Strategic Bitcoin Reserve, noting, “If you asked me five years ago, that would have been like a vision board. Someone would have said you’re crazy—the United States government is not going to officially hold Bitcoin.”
The remarks came the same day Eric Trump told the Wyoming Blockchain Symposium, “You go out a couple of years, there’s no question Bitcoin hits a million bucks.”
Crypto Analyst Urges Taking It One Step at a Time
However, McKay Research analyst James McKay cautions Bitcoin investors against getting too far ahead of themselves regarding the asset’s future value.
“Let’s try and hold $124K first, guys,” McKay wrote in an X post on Tuesday, a week after Bitcoin reached a new all-time high of $124,128 before losing ground in the following days.
McKay added that Armstrong’s prediction is “not out of left field,” noting that Standard Chartered has projected Bitcoin could reach $500,000 by 2028.
Factors that could support a continued Bitcoin rally include purchases by crypto treasury firms and nation-states, sustained institutional interest, and growing demand for spot Bitcoin ETFs.
On the other hand, near-term challenges could arise if the US Federal Reserve delays rate cuts, while longer-term risks may stem from a potentially less crypto-friendly approach by the next US presidential administration.
Multiple Other Executives Predict Bitcoin Could Reach $1M by 2030
McKay’s remarks came just hours after he noted, “Only time will tell whether the 4-year cycle is dead or not.”
Earlier this year, ARK Invest CEO Cathie Wood projected that Bitcoin could hit $1.5 million by 2030 in her firm’s “Bull Case” forecast. Even further back, in May 2024, Twitter co-founder Jack Dorsey predicted a single BTC could reach $1 million by 2030—and possibly rise even higher.
However, some caution that reaching such levels too quickly could signal trouble.
Galaxy Digital CEO Mike Novogratz warned that a million-dollar Bitcoin next year wouldn’t be a triumph but rather an indicator of serious domestic economic issues. “People who cheer for the million-dollar Bitcoin price next year—I was like, guys, it only gets there if we’re in such a terrible place domestically,” Novogratz told Natalie Brunell on the Coin Stories podcast Wednesday.
