- Brian Armstrong says Bitcoin could reach $1 million by 2030.
- Analyst James McKay urges Bitcoin to hold or reclaim $124,000 first.
Coinbase chief executive Brian Armstrong expects Bitcoin to reach $1 million by 2030, while market analysts argue the immediate test is whether the asset can reclaim the $124,000 area after a sharp pullback from last week’s peak.
Armstrong links decade-long target to U.S. policy shifts and institutional demand
Armstrong outlined his view during an appearance on the “Cheeky Pint” podcast with John Collison and in subsequent social media posts, describing a “rough idea” that Bitcoin reaches $1 million by the end of the decade.
He pointed to clearer regulatory contours in the United States, including the recently passed GENIUS Act for stablecoins and a pending market structure bill in the Senate, as well as policy debates around a U.S. strategic Bitcoin reserve. The reserve concept has been discussed publicly by Armstrong and in Washington this year.
Supportive flows remain a pillar of the thesis. Armstrong and other market watchers cite continuing demand from spot Bitcoin exchange-traded funds, increased corporate treasury allocations and intermittent nation-state purchases as factors that could extend the adoption curve through the current cycle.
Forecasts from other industry participants vary widely, but the common thread is that marginal buyers now include institutions with balance-sheet scale.
Bitcoin set a record near $124,457 on August 14 then eased toward $113,000
Bitcoin printed a new all-time high near $124,457 on August 14, 2025, before retreating. Prices hovered around $113,000 on August 21, leaving the token roughly 9 percent below the peak after a bout of profit-taking. The move has sharpened focus on whether previous resistance at about $124,000 can turn into support.
Analyst James McKay of McKay Research cautioned against extrapolating decade-long targets into the near term. “Let’s try and hold 124K first,” he wrote this week, noting that the level aligns with last week’s breakout zone and would help confirm trend strength if maintained.
*BULLISH*
Coinbase CEO Brian Armstrong said he believes #Bitcoin could reach $1 million by 2030.
For context Standard Chartered have a 500K $BTC prediction for 2028, so $750K to $1 million by 2030 not out of left field.
But let's try and hold 124K first guys. pic.twitter.com/xtBmqnmTbz
— James McKay (@McKayResearch) August 21, 2025
His remarks followed Armstrong’s comments and coincided with a modest deterioration in momentum indicators over the past several sessions.
Risks to the trajectory remain two-sided. Near-term headwinds include the possibility that the Federal Reserve delays rate cuts, which could weigh on liquidity conditions. Longer-dated uncertainties include the shape of U.S. digital-asset policy under the next administration and the pace of continued ETF inflows.
Only time will tell whether the 4-yr cycle is dead or not.
To me it’s becoming clear that the slow and steady, stepwise ascent we’ve seen so far this bull is lowering the probability for a multi-year #crypto winter.
Great points here via @matthew_sigel#bitcoin https://t.co/cipHZsDUMJ
— James McKay (@McKayResearch) August 20, 2025
For now, market participants are watching whether spot prices can stabilise above the mid-$110,000s and retest the $124,000 threshold that has become the market’s immediate reference point.
Bitcoin is trading at exactly $113,759.00 USD, reflecting a 0.02 % increase over the past 24 hours.
