Coinbase Chief Executive Brian Armstrong reaffirmed his long-term outlook for Bitcoin on Thursday, describing a price of $400,000 by 2030 as a reasonable target even as the cryptocurrency traded near $77,000. Speaking on CNBC’s Squawk Box Asia, Armstrong also stated that he believes Bitcoin has reached the bottom of its current market cycle.

Cycle Pattern and Price Recovery

Armstrong pointed to Bitcoin’s familiar multi-year cycles, which typically feature a period of rising prices and euphoria followed by a downturn lasting about a year. He noted that the market has just passed the one-year mark of the latest decline and that prices have recovered from a low near $57,717 recorded on July 1, 2026. “I personally believe that the bottom is in,” he said.

Bitcoin recently traded in the $77,000 to $79,000 range after climbing more than 20 percent over a 30-day period. The asset had earlier reached an all-time high of $126,080 in October. Armstrong expressed optimism for the next one to two years, adding that markets often see run-ups in the period ahead of Bitcoin’s programmed halvings. The next such event is expected around mid-April 2028.

Regulatory Outlook and the Clarity Act

Armstrong linked future price performance in part to clearer U.S. rules for digital assets. He said he expects the Clarity Act to receive a yes vote when senators consider it next week and described the measure as ready for passage based on conversations with lawmakers. The legislation aims to establish a framework distinguishing how different digital assets are regulated.

Even if the bill does not advance, Armstrong said regulatory agencies have indicated they are prepared to issue rules and innovation exemptions under existing authority. In either case, he anticipates greater clarity within roughly a month. He cited the earlier Genius Act on stablecoins as a precedent, noting that more than 150 large companies integrated the technology within three months of that law’s passage. Similar progress on market structure, he suggested, could unlock institutional capital and support products such as tokenized equities and perpetual futures for U.S. customers.

Armstrong acknowledged that some remaining issues, including ethics provisions related to certain crypto ventures, are still under discussion. He characterized those talks as close to resolution while noting they sit above the level of industry input.

Market Context

Bitcoin’s recent gains followed a period of sluggish trading through June and July. Armstrong framed the recovery and the approaching halving cycle as supportive of constructive conditions over the next year or two, while cautioning that outcomes in markets are never certain. At the time of his remarks, the cryptocurrency continued to trade near the upper end of its recent range after a brief move above $82,000 earlier in the month.