Coinbase Global (NASDAQ:COIN) Chief Executive Brian Armstrong said he believes Bitcoin has reached its low point in the current market cycle and expects the cryptocurrency to trend higher as the next halving approaches.
“Bitcoin goes through these four-year cycles. I personally think we’ve seen the bottom of the Bitcoin price in this cycle, and it’s going to start to trend up over the coming year or two as we reach the next halving event,” Armstrong said in an interview with Bloomberg Television in Singapore on Thursday.
Armstrong’s comments represent his personal assessment of Bitcoin’s potential direction and do not establish how the cryptocurrency will perform.
Bitcoin declined to $78,033.6 by 03:52 ET (07:52 GMT) on Thursday. The move came as the U.S.-Iran conflict escalated and Treasury yields remained elevated, while broader cryptocurrency prices also traded lower.
Armstrong Comments on U.S. Crypto Regulation
Armstrong also discussed the regulatory environment for the cryptocurrency industry, saying regulatory clarity “has been getting a lot better” and that the Clarity Act is “right on the finish line” in the Senate.
He said passage of the legislation would represent “a big milestone for crypto.”
“If it doesn’t pass, the regulators in the U.S., the SEC and the CFTC, have come out and said they’re ready to publish clear rules anyway. So we’ll either get it from the Senate or from the regulators I think in the next week or two,” Armstrong said.
The timing and outcome described by Armstrong represent his assessment of the regulatory process.
Coinbase CEO Identifies Four Areas for 2027
Armstrong said he hopes tokenized equities can be introduced in the U.S. “soon.”
He identified stablecoin payments, equity tokenization, prediction markets and agentic finance as four areas in which he has the highest conviction heading into 2027.
Armstrong Criticises Proposed California Wealth Tax
Armstrong also commented on California’s proposed wealth tax, saying the measure “would be a bad thing for California.”
“There’s a large number of tech founders that I know already who are planning to leave the state or have already left. I think it could create a major budget deficit,” he said. “I personally just believe that it’s un-American and unethical to try to seize people’s assets.”
The comments reflect Armstrong’s views on the proposed measure.
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