Coinbase CEO Brian Armstrong believes that Bitcoin could reach a valuation of several million dollars per coin in the future. This bold prediction comes as BTC hits new all-time highs, just hours after Donald Trump was sworn in for his second term.
Bitcoin’s Impressive Surge
In an interview on CNBC’s Squawk Box, Armstrong described the current Bitcoin market trends as a sign of a new era for cryptocurrencies. He pointed to growing institutional investor interest as a key driver behind Bitcoin’s recent price increases.
A prime example of Bitcoin’s growing adoption is MicroStrategy’s recent purchase of 11,000 BTC worth $1.1 billion, bringing the company’s total Bitcoin holdings to a staggering 461,000 BTC. Additionally, Bitcoin ETFs continue to play a crucial role in the expansion of the crypto market. Since their approval in January 2024, these funds have already attracted a net inflow of $38.9 billion.
“Bitcoin has enormous growth potential and could reach a valuation of millions per coin,” Armstrong stated.
A Strategic U.S. Bitcoin Reserve?
Another potential game-changer for Bitcoin is Trump’s previous commitment to establishing a strategic Bitcoin reserve. This plan could significantly accelerate cryptocurrency adoption at a national level and even inspire other G20 nations to follow suit.
“Bitcoin is becoming the new gold, and crypto is much more than that,” Armstrong emphasized.
The recent pardon of Silk Road founder Ross Ulbricht by Trump is widely seen as a sign that the president may be willing to fulfill his other crypto-related promises.
According to the prediction platform Polymarket, there is now a 31% chance that Trump will establish a Bitcoin reserve within the first 100 days of his presidency. This probability surged significantly after his inauguration, signaling renewed optimism within the crypto community.
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