 
 
The FTX implosion might look like a distant reminiscence when Bitcoin (BTC) slumped to $15,000 lows in November 2022. The sentiment throughout that point was excessive concern, and the business by no means imagined it might bounce again.
Quick ahead to slightly over two years later, the world’s largest and oldest crypto is valued at over $100,000 with a brand new crypto-friendly U.S. administration in cost. And one of many crypto business’s most distinguished leaders, Brian Armstrong, has predicted that BTC might probably hit “a number of tens of millions” per coin.
Why is the Coinbase CEO so bullish on Bitcoin?
Bitcoin Value To Thousands and thousands?
In a current interview with CNBC, Coinbase’s chief govt officer Brian Armstrong stated he believes the Bitcoin value might attain tens of millions of {dollars} within the coming years.
“We’ve seen simply unbelievable development, and I believe it hit an all-time excessive yesterday, so we really feel superb about that,” he posited. “I believe over time we’ll see Bitcoin get into the a number of tens of millions value vary.”
 
Simply earlier than the Donald Trump inauguration on Jan. 20, BTC smashed a brand new all-time excessive value level of $108,786. The highest crypto, nonetheless, nosedived sharply shortly afterward following disappointment over Trump sidestepping crypto whereas delivering his Inauguration Day speech and the absence of an govt order associated to a nationwide strategic Bitcoin reserve.
Though Trump might have backpedaled on his day one crypto guarantees, fanatics are nonetheless hopeful of a extra favorable regulatory atmosphere beneath his administration.
In keeping with Armstrong, Trump lastly constructing a nationwide Bitcoin reserve would spur FOMO amongst different nation-states to ascertain their very own BTC reserves.
“If the U.S. took that path, most likely the remainder of the G20 would comply with. I believe Bitcoin has an extended solution to go— it’s going to be the brand new gold customary on the market, however crypto is actually a lot larger than that too,” the business chief asserted.
Bitcoin’s Promising Future Below Trump
Donald Trump is now formally the forty seventh President of america. On Jan. 21, the Securities and Trade Fee took the primary towards reforming its method to crypto by launching a crypto job pressure devoted to “growing a complete and clear regulatory framework for crypto property.”
The duty pressure is spearheaded by long-time crypto evangelist, Commissioner Hester Pierce, and can work carefully with the crypto business to formulate laws. Most crypto pundits are already excited by Trump’s appointment of Commissioner Mark Uyeda to function the performing SEC chair.
That being stated, Coinbase’s Armstrong is hardly alone in million-dollar BTC value forecasts. MicroStrategy’s Michael Saylor, whose firm at the moment holds a whopping 461,000 Bitcoin, pushed the envelope. The tech billionaire predicted final September that Bitcoin might see an astronomical flight to $13 million per coin over the subsequent 21 years. That may characterize an over 13,000% value appreciation from BTC’s present value of $105,321.
