Coinbase CEO Brian Armstrong Says Clarity Act Will Pass — And That Bitcoin Bottom Is In

According to Bitcoin Magazine, Coinbase CEO Brian Armstrong stated on CNBC that bitcoin's market bottom is in and reiterated his prediction that the cryptocurrency will reach $400,000 by 2030. Armstrong pointed to typical four-year crypto market cycles, noting that the recent down period has lasted about a year. Bitcoin recently traded near $77,318, following an all-time high of $126,080 in October.

Armstrong also expressed confidence that the long-awaited Clarity Act will pass a Senate vote next week. The legislation outlines a framework to divide regulatory oversight, distinguishing digital assets as securities, commodities, or stablecoins. Armstrong stated that the bill would act as a regulatory milestone to unlock institutional capital and bring tokenized equities and perks to the United States.

Bitcoin Magazine reported that bitcoin experienced sluggish trading through June and July before surging in August amid positive regulatory developments, gaining over 20% over a 30-day period. Armstrong compared the potential impact of the Clarity Act to the Genius Act passed the previous year, which was followed by over 150 large companies integrating stablecoins within three months.