Coinbase CEO Brian Armstrong said this week that bitcoin could reach US$1 million per token by 2030 in a post on X.

Armstrong, who rarely gives public price predictions, joins other high-profile figures making similar forecasts.

Jack Dorsey, former CEO of X and co-founder of Block, has also made a US$1 million bitcoin prediction for 2030.

Ark Invest, led by Cathie Wood, increased its estimate last month, projecting bitcoin could hit up to US$3.8 million by the end of the decade, citing rising institutional adoption.

Bitcoin is trading at US$114,383, up 22% in 2025, after reaching a record above US$124,000 last week.

🔗 Source: CoinDesk

🧠 Food for thought

1️⃣ Bitcoin predictions gain credibility through institutional backing unlike previous cycles

Armstrong’s $1 million prediction carries more weight because it comes during a period of unprecedented institutional adoption, unlike earlier speculative phases.

The approval of Bitcoin ETFs in 2024 has fundamentally changed market dynamics by providing regulated access for institutional investors, leading to billions in inflows and enhanced market liquidity1.

This institutional infrastructure wasn’t available during Bitcoin’s previous major price cycles, when predictions were primarily driven by retail enthusiasm rather than structured financial products.

Major companies like MicroStrategy are now holding Bitcoin as a reserve asset, while governments are exploring Strategic Bitcoin Reserve initiatives, representing a shift from speculative trading to strategic allocation1.

The prediction also aligns with Bitcoin’s historical halving cycles, which occur every four years and have historically correlated with significant price increases due to reduced mining rewards and supply constraints2.

2️⃣ Market cap trajectory suggests Bitcoin’s growth mirrors early internet company valuations

Bitcoin’s market capitalization growth from $1 billion in 2013 to $1.15 trillion by November 2021 demonstrates the scale of value creation that’s driving these ambitious price targets3.

At current levels around $114,000, reaching $1 million would require roughly an 8x increase, bringing Bitcoin’s total market cap to approximately $20 trillion, which would rival gold’s current $12 trillion market capitalization3.

Recent Coinbase developments