Bitcoin To Be Worth Multiple Millions Someday Coinbase CEO Explains Why

The FTX implosion may seem like a distant memory when Bitcoin (BTC) slumped to $15,000 lows in November 2022. The sentiment during that time was extreme fear, and the industry never imagined it would bounce back.

Fast forward to a little over two years later, the worlds largest and oldest crypto is valued at over $100,000 with a new crypto-friendly U.S. administration in charge. And one of the crypto industrys most prominent leaders, Brian Armstrong, has predicted that BTC could potentially hit multiple millions per coin.

Why is the Coinbase CEO so bullish on Bitcoin?

Bitcoin Price To Millions?

In a recent interview with CNBC, Coinbases chief executive officer Brian Armstrong said he believes the Bitcoin price could reach millions of dollars in the coming years.

We have seen just incredible growth, and I think it hit an all-time high yesterday, so we feel very good about that, he posited. I think over time well see Bitcoin get into the multiple millions price range.

Just before the Donald Trump inauguration on Jan. 20, BTC smashed a new all-time high price point of $108,786. The top crypto, however, nosedived sharply shortly afterward following disappointment over Trump sidestepping crypto while delivering his Inauguration Day speech and the absence of an executive order related to a national strategic Bitcoin reserve.

Even though Trump may have backpedaled on his day one crypto promises, enthusiasts are still hopeful of a more favorable regulatory environment under his administration.

According to Armstrong, Trump finally building a national Bitcoin reserve would spur FOMO among other nation-states to establish their own BTC reserves.

If the U.S. took that path, probably the rest of the G20 would follow. I think Bitcoin has a long way to go its going to be the new gold standard out there, but crypto is really much bigger than that too, the industry leader asserted.

Bitcoins Promising Future Under Trump

Donald Trump is now officially the 47th President of the United States. On Jan. 21, the Securities and Exchange Commission took the first toward reforming its approach to crypto by launching a crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets.

The task force is spearheaded by long-time crypto evangelist, Commissioner Hester Pierce, and will work closely with the crypto industry to formulate regulations. Most crypto pundits are already excited by Trumps appointment of Commissioner Mark Uyeda to serve as the acting SEC chair.

That being said, Coinbases Armstrong is hardly alone in million-dollar BTC price forecasts. MicroStrategys Michael Saylor, whose company currently holds a whopping 461,000 Bitcoin, pushed the envelope. The tech billionaire predicted last September that Bitcoin could see an astronomical flight to $13 million per coin over the next 21 years. That would represent an over 13,000% price appreciation from BTCs current price of $105,321.

Text source: ZyCrypto

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