Coinbase CEO Brian Armstrong Predicts Bitcoin Will Reach ‘Multiple Millions’ In Value
Despite recent fluctuations, Bitcoin (BTC), the leading cryptocurrency, remains a focal point of discussion among investors and industry leaders. Following its record high of $109,000 just days ago, Bitcoin’s bullish momentum has waned, prompting renewed interest in its future potential.
Coinbase CEO Brian Armstrong recently shared his insights on Bitcoin’s trajectory during an interview at the World Economic Forum in Davos, Switzerland. Armstrong emphasized the increasing institutional adoption of Bitcoin, particularly through exchange-traded funds (ETFs) and other financial instruments.
The executive believes that if the US were to establish a national Strategic Bitcoin reserve, it could significantly bolster Bitcoin’s value. According to Armstrong, such a move would set a precedent for other G20 nations to follow, potentially pushing Bitcoin into a price range of “multiple millions.”
“I think he is excited about it. I mean, he really wants to be the first Bitcoin president,” Armstrong stated, referring to President Donald Trump. Armstrong highlighted his previous meetings with Trump, where they discussed the potential benefits of Bitcoin for the US economy and its role as a financial reserve.
Armstrong’s vision extends beyond mere speculation; he envisions a future where BTC becomes a standard reserve asset for governments worldwide. “The US has reserves in many assets—gold, oil, and various rare minerals. I believe the world is moving toward a Bitcoin standard for money,” he asserted.
However, ethical concerns have arisen surrounding the Trump family’s recent ventures into the cryptocurrency market. Trump launched its “official Trump coin” (TRUMP) just days before his recent inauguration. Developed by CIC Digital—an affiliate of the Trump Organization—the coin quickly gained attention for its rapid rise in market capitalization.
Within 48 hours of its debut, the Trump coin reached a staggering market cap of $73 billion, surpassing Dogecoin to become the largest memecoin. Melania Trump also launched her own token, MELANIA, around the same time, which currently holds a market cap of $732 million.
The sudden success of these memecoins has sparked debates about the ethical implications of such ventures, especially considering the potential financial gain for the Trump family. Gautam Chhugani, an analyst at Bernstein Digital Assets, commented on the significance of these developments, stating that it signifies a new regulatory era where governments see crypto as a technology to reach out to the masses directly.
At the time of writing, Bitcoin is trading at $102,380, retracing over 3% in the 24-hour timeframe. The market continues to watch closely as Bitcoin’s value and the Trump family’s involvement in the cryptocurrency market unfold.