Foreign media: Brian Armstrong, CEO of Coinbase, recently stated in an interview with CNBC that it is still a "reasonable goal" for Bitcoin to reach $400,000 by 2030. In his view, this round of Bitcoin's downward trend has lasted for about a year, and the current cycle may have already hit its bottom.
Still judging the future market on a four-year cycle
Armstrong stated that Bitcoin typically follows a familiar four-year cycle, which includes a period of rise and increasing enthusiasm, followed by a decline that lasts for about a year. He mentioned that this current adjustment period is nearing or has just exceeded one year, and he tends to believe that a temporary bottom has already been reached.
He also mentioned that the market often sees a rise before a Bitcoin halving, and the next halving is expected to occur in about 18 months. Based on this assessment, he believes that Bitcoin's performance could be strong in the coming one to two years.
Regulatory clarity or within a month
In addition to price analysis, Armstrong also discussed cryptocurrency regulation in the United States. He stated that the U.S. Senate will vote on Clarity Act on September 15th, and from what he has observed, this bill "is ready to be passed."
He stated that law enforcement agencies, some banks, and crypto companies currently support the bill, and some objections previously raised by Coinbase have also been resolved. The main remaining disagreements focus on the ethical constraints regarding the involvement of the presidential family in the crypto industry. The White House and Democrats are still negotiating over the relevant provisions.
However, he believes that even if the bill is not passed, the market may not have to wait for a long time. The reason is that both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are said to be prepared to advance rule-making based on their existing authorities and to provide for innovative exemptions. He expects that, regardless of the outcome of the bill, regulatory clarity could emerge within a month.
Coinbase Continues to advance product expansion
Armstrong also stated that if the Clarity Act is approved, American customers will have the opportunity to access products such as tokenized stocks and perpetual futures. Coinbase is also making early arrangements in these directions.
He mentioned that Coinbase announced a tokenized stock trading plan in June of this year, which includes an automatic dividend distribution feature; the company is also advancing products related to cryptocurrencies and stock options. According to the text, Coinbase became the first U.S. exchange to be approved to offer crypto perpetual contracts in May of this year.
Additional information:The report also mentioned that against the backdrop of slowing market transactions, Coinbase has laid off 14% of its staff, and its performance in the second quarter fell short of expectations.
