Coinbase CEO Brian Armstrong thinks Bitcoin could hit millions of dollars. He shared this bold prediction recently at the World Economic Forum in Davos.
A US Bitcoin Reserve?
Armstrong’s bullish outlook is fueled by growing institutional interest in Bitcoin, like through ETFs. He believes a US national Bitcoin reserve would be a game-changer. This move, he says, would inspire other countries to follow suit, potentially skyrocketing Bitcoin’s price to “multiple millions.”
He even referenced his past conversations with President Trump, suggesting Trump is also interested in Bitcoin’s potential for the US economy. Armstrong envisions a future where Bitcoin becomes a global reserve asset, like gold or oil.
The Trump Family’s Crypto Ventures: Ethical Questions?
Meanwhile, the Trump family’s recent foray into crypto has sparked controversy. A “Trump coin” (TRUMP) launched shortly before Trump’s inauguration saw a meteoric rise, briefly reaching a $73 billion market cap before dropping significantly. Melania Trump also launched her own token.
This rapid growth and subsequent decline raised concerns about the ethical implications of such ventures, particularly the potential for significant personal profit. One analyst described it as a “massive paradigm shift” in how governments view crypto, suggesting it signals a new era of regulation where governments see crypto as a way to directly engage with the public.
Bitcoin’s Current State
At the time of writing, Bitcoin is trading around $102,380, slightly down for the day.
