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In spite of recent market collapses and a severe legislative struggle in Washington, Coinbase CEO Brian Armstrong is still very bullish on Bitcoin (BTC) even though it has been extremely strong. The flagship coin could go up all the way to $1 million, according to Bloomberg’s crypto boss.
Publicly, I think Bitcoin would be a million dollars by 2030. I still think that’s the case,’ Armstrong said. Whenever we have to do something in any given week or month, I know that we try not to follow it too much.” I think it’s the more long term trend that is interesting to me. ‘A ,’ said.
Armstrong emphasized that the finite nature of Bitcoin distinguishes it from traditional fiat systems.
Bitcoin is cool,’ “The coolest thing about Bitcoin” is that it has a cool twist. No money printer, right? So the supply is fixed, it’s finite. But so as more people integrate crypto and use crypto, there is a greater demand and finite supply of the word “flip”. He said ‘That means the price can go up, that is just what s say.
But Armstrong was a harsh warning to those on the sidelines “If they don’t have at least 5 per cent of their net worth in Bitcoin, then you’re going to be pretty sad. The , “It’s a great deal of fun.”
The battle with the banks
In a high-stakes political battle over the future of market structure legislation, Coinbase is now in tangled with its rivalry. A draft Senate bill, a move that shocked Washington’s public last week, was pulled from its support by Coinbase last weeks and led to shockwaves in Washington. Armstrong said the move was based on what he saw as protectionist measures designed to protect traditional banks from competition.
I can say that, if I could say it, there were too many giveaways to Tradfri,” Armstrong said. We believe that there should be a level playing field, for this is allowed to do so,” . This isn’t allowed to be this, nor can . And then all the US companies compete, and banks didn’t like that. The , “It’s a great deal of fun.”
The CEO declined to comment on the lobbying of the incumbent financial institutions. There are also the bank lobbying groups and banks associations that want to ban their competition, I don’t care about that. I think that is un-American . It also hurts consumers by causing to be harmful. And the banks need competition from and competition. They have to think in a way that they can innovate. Paraphrasing ‘It is an important part of my life to be paraphrased.
stablecoins are a primary friction point of . But banks have claimed that platforms rewarded customers for holding stablecoins create a “deposit flight risk” (see Banks). This was countered by Armstrong, who spelled out a sharp difference between the risk profile of ‘crypto exchange’ and – in contrast to. fractional reserve bank (i.e.
We do not lend fractional reserve,” Armstrong said. There is a 100% reserve, so all your money is there in ‘cryptic world’. This eliminates all risk associated with a bank run, it says in. There is 100% of the money there, so if it’s no such thing as . ‘A ,’ said.
Thanks for reading Coinbase Boss Doubles Down on $1 Million Bitcoin Price Prediction
