Coinbase CEO Brian Armstrong has said bitcoin's bottom is in and reiterated his view that the coin will hit $400,000 by 2030, while voicing confidence that the long-awaited crypto Clarity Act will pass next week.

Speaking Thursday on CNBC, the head of America's biggest crypto exchange pointed to the historical rhythm of bitcoin's market cycles in explaining why he believes the current downturn has run its course.

JUST IN: Coinbase CEO Brian Armstrong tells CNBC the Bitcoin "bottom is in" and BTC hitting $400,000 by 2030 is a "reasonable target" pic.twitter.com/RYfipYCNDk — Bitcoin Magazine (@BitcoinMagazine) September 10, 2026

"[$400,000] is a reasonable target by 2030, and if you follow crypto, you know it typically goes through these four-year-ish cycles: there'll be a run-up, some euphoria, there'll be a down period," Armstrong said. "Most of the down periods last about a year, and we've actually just come across the one-year mark for this down period, so I personally believe that the bottom is in."

Bitcoin traded sluggishly throughout June and July before starting to surge in August, spurred on by positive regulatory news. Over a 30-day period, the largest cryptocurrency is currently up more than 20%, recently trading close to $77,318 per coin. It hit a new all-time high of $126,080 in October.

Market observers have been paying close attention to the long-awaited Clarity Act this year. The bill drafts a framework to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities, or stablecoins — rules the crypto industry has long called for.

Senators will vote on the legislation next week after an August delay. U.S. President Trump helped spur a surge in the bitcoin price when he hosted crypto executives and traditional finance figures at the White House and urged lawmakers to move forward with the bill.

Armstrong said Thursday he was confident the bill would get through — and help unlock new capital as a result.

"We saw with the Genius Act that passed last year for stablecoins: in the wake of that legislation passing, we saw well over 150 large companies integrate stablecoins within just a three-month period," he said. "And I think something similar could happen with the Clarity Act passing — it's a regulatory checkbox, it'd be a big milestone certainly to unlock institutional capital and to bring things like tokenized equities and perks to the United States, which would be very good."

This article first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.