Coinbase Global CEO Brian Armstrong stated that he believes the Bitcoin price has reached its lowest point for the current market cycle and expects the asset to move higher over the next two years. Armstrong, who leads the Coinbase crypto exchange, made the comments in a media interview, noting that he does not anticipate another downturn in Bitcoin's price until the next halving event, which is expected in about two years.
The remarks come as Bitcoin trades at $78,000 U.S. on Sept. 10, having gained nearly 25% since the end of August. This rally follows a period known as "crypto winter" that began last October, during which Bitcoin's price fell from an all-time high of $126,000 U.S. to a low of $58,000 U.S. at the end of June this year. Currently, Bitcoin and other cryptocurrencies such as Ethereum are rallying and outpacing U.S. stocks, which have remained flat since late August.
Armstrong pointed to growth in the broader crypto market beyond Bitcoin to support his outlook. He noted that stablecoin payments at Coinbase have increased 700% year-over-year. The CEO also cited projections for the stablecoin market to reach $3 trillion U.S. by 2030, identifying payments, tokenization, prediction markets, and agentic finance as key growth areas.
Despite the positive outlook for the underlying assets, Coinbase Global stock has declined 45% over the last 12 months to trade at $174.72 U.S. per share.