Speaking at Davos 2026, Coinbase (NASDAQ:COIN) CEO Brian Armstrong reiterated his view that Bitcoin (CRYPTO: BTC) could reach $1 million by 2030, while warning that crypto regulation should promote competition rather than protect incumbent banks.
Armstrong Demands A "Level Playing Field For Banks"
Armstrong on Tuesday said Coinbase withdrew support for a draft U.S. market structure bill due to provisions that would restrict stablecoin rewards, describing them as protectionist.
He argued that consumers should be free to earn higher yields through stablecoins and decentralized finance, and that banks should compete by offering better products instead of lobbying to limit alternatives.
He noted that stablecoins regulated under the GENIUS Act are backed 1:1 by short-term U.S. Treasuries, which he said makes them lower risk than traditional fractional-reserve banking, where deposits are lent out without explicit customer consent.
Armstrong added that Coinbase is engaging directly with bank executives to pursue "win-win" outcomes and highlighted that the company already provides crypto infrastructure to several major global banks.
He characterized recent banking-sector lobbying as efforts to restrict competition rather than adapt.
Looking ahead, Armstrong pointed to initiatives such as the NYSE's move into tokenized equities as further evidence that blockchain technology is modernizing capital markets and improving efficiency.
Bitcoin Still Headed To $1 Million
Dismissing short-term volatility, Armstrong said his long-term Bitcoin outlook remains unchanged, reiterating his $1 million target by 2030.
He also outlined Coinbase's plan to become an "everything exchange," spanning crypto, tokenized equities, prediction markets, and AI-driven financial services, with AI agents expected to transact via crypto wallets.
Armstrong concluded that crypto is a key force in expanding access to global financial markets and modernizing the financial system.
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