Coinbase CEO Brian Armstrong repeated his predictions in a recent interview with Fox Business that Bitcoin could potentially surge to $1 million.
In fact, Armstrong believes there is a “good chance” for flagship tokens to reach seven figures before 2030.
As Reported by U.TodayArmstrong initially predicted that BTC could reach $1 million in August, claiming that US regulations clarity would be the main catalyst for Bull Run.
Again, he mentioned the laws of genius and market structure.
Furthermore, the US, which holds Bitcoin, will be a massive potential driver of demand. It could also encourage other G20 countries to follow suit.
Finally, Armstrong argues that many institutional funds are currently flowing into Bitcoin.
“So Bitcoin has a lot of positive tailwinds,” he said, adding that many capital pools still don’t have access to flagship cryptocurrencies.
The ambidextrous nature of bitcoin
Armstrong compares Bitcoin to gold, noting that it is something people may actually run away at times of uncertainty.
That being said, he tends to view BTC as a “hybrid” of risk-on and risk-off assets.
As reported by U.Today, Gold Bug Peter Schiff recently opined that Bitcoin investors bet on the wrong horse after both US stocks and precious metals gathered to score highs.
However, Armstrong insists he doesn’t want to be caught up in short-term trends.
“What I’m trying to do is look at long-term trends,” he told Fox Business.
