Brian Armstrong’s Bold Bitcoin Prediction: Millions Ahead

Coinbase CEO Brian Armstrong expressed his belief that Bitcoin could eventually reach a value in the multi-million dollar range. This comes as BTC hits a new high just hours before Donald Trump returns to the Oval Office for a second term.

Armstrong attributes Bitcoin's dramatic growth to increasing institutional interest and increasing adoption at the national level.

Coinbase CEO $1 Million Bitcoin Vision

Speaking on CNBC's Squawk Box, Armstrong described Trump's presidency as “the dawn of a new day” for cryptocurrency.

Although the first round of executive orders in Trump's new term did not directly mention crypto, the CEO was optimistic about Bitcoin's long-term potential.

“Over time, I think we'll see Bitcoin move into the multi-million dollar range,” Armstrong said.

He attributed this confidence to the growing interest of institutional players. For example, on January 21st, MicroStrategy bought 11,000 BTC in Bitcoin worth $1.1 billion. This purchase increased the company's total reserves to a staggering 461,000 BTC.

Armstrong pointed to the Bitcoin ETF as a major contributor to the wealth's growth. Approved in January 2024, these ETFs have attracted high returns. According to data from Farside Investors, Bitcoin ETFs have seen $38.9 billion in net inflows so far.

In addition, ETFs recorded four consecutive days of inflows, with daily net inflows reaching $802.6 million since Jan. 21.

US Bitcoin Strategic Bitcoin Reserve: Possible?

Armstrong noted that Trump's campaign promises to establish a strategic Bitcoin reserve could further accelerate the adoption of the cryptocurrency nationwide. It may act as an incentive for other G20 countries that have already shown interest to follow suit.

“Bitcoin has a long way to go. It's going to be the new gold standard, and crypto is much bigger than that,” Coinbase CEO said.

In particular, Trump fulfilled one of his first promises by pardoning Silk Road founder Ross Ulbricht, ending his life sentence. The move has raised new hopes that the president may make other promises, including the creation of a strategic bitcoin reserve.

“If Ross Ulbricht gets his pardon, we're definitely getting a strategic Bitcoin reserve,” Anthony Pompliano, CEO of Professional Capital Management, told XPost.

Forecasting platform Polymarket confirmed this sentiment, showing a 37% chance of Trump creating Bitcoin reserves in his first 100 days in office. This was a 29 percent recovery from the previous day's low.

As these developments unfold, Bitcoin continues to grow. At the time of writing, the leading cryptocurrency was trading at $105,366. This represents a growth of 3.0% in the last 24 hours.

With increasing institutional participation, rising ETF revenues and potential national initiatives, Armstrong's multi-billion dollar Bitcoin forecast may not be far off.