Coinbase Global (NASDAQ: COIN) chief executive Brian Armstrong maintains that Bitcoin could reach $400,000 by 2030, reiterating the forecast during a September 19 appearance on the MoneyRehabPodcast (interview video).

Armstrong's projection rests on Bitcoin's historical cycles. Roughly once every four years, the Bitcoin network cuts the amount of new BTC entering circulation through a halving. The most recent halving took place in April 2024, putting the next one on that roughly four-year schedule around 2028. Past halving cycles have often been followed by steep price runs, which were in turn followed by major pullbacks that can last close to a year. Armstrong suggested that another cycle of this kind could carry Bitcoin to roughly three times its previous record price before the end of the decade.

He framed the estimate as conditional. It depends on Bitcoin behaving in a way that resembles earlier cycles, he said, and he stressed that past price action cannot tell investors exactly what comes next. The $400,000 figure is therefore a possible outcome rather than a fixed forecast.

As of 16:01 WIB on September 25, Coinbase shares were priced at $198.85 on Pluang, down 018% over 24 hours. The crypto exchange carried a market value of $52.27 billion, with COIN's 52-week trading range spanning $141.09 to $387.27.

Coinbase Adds Fixed-Rate Bitcoin Loans as ETF Inflows Hit $2.4 Billion

Separately, Coinbase has expanded its lending business with fixed-rate USDC loans backed by Bitcoin. Under the new product, borrowers receive their interest charge and repayment deadline at the start of the loan, rather than watching the cost move with market conditions.

The offering runs on Morpho Midnight, a decentralized lending protocol introduced in July. The protocol does not retain any customer funds and supports lending with predetermined borrowing rates and fixed terms. Transactions on the network will be settled using Base, Coinbase's layer-2 blockchain built on Ethereum.

The fixed-rate product sits alongside Coinbase's existing crypto lending product, Morpho Blue, which uses variable borrowing rates. Those rates depend on available liquidity and loan demand, meaning customers pay more during periods of heightened borrowing activity. The fixed-rate offering will coexist with the variable-rate product rather than replace it. Coinbase's variable-rate lending market currently features more than $1.4 billion in active loans, backed by total collateral of nearly $3 billion.

Demand for spot Bitcoin exchange-traded funds has also picked up sharply. Citing figures from SoSoValue, The Block reported that U.S. spot Bitcoin funds took in $2.4 billion in net inflows during the week ending September 25, their biggest weekly intake since October 2025. Those funds hold Bitcoin directly and trade on U.S. stock exchanges, a structure available since the Securities and Exchange Commission cleared the products for launch in January 2024.

Monday accounted for a large share of that total. The 12 Bitcoin ETFs tracked by SoSoValue collected $999 million in a single day, their strongest daily result since October 6, 2025, and the ninth-biggest daily inflow since U.S. spot Bitcoin ETFs began trading in January 2024.

The week's purchases pushed the group's flows back into positive territory for 2026. Year-to-date net inflows stood at roughly $934.1 million, a reversal from the approximately $5.8 billion in net outflows the same group was showing as of July 13. Since their inception, the funds have generated about $57.6 billion in net inflows, and their combined net assets totaled about $108.4 billion as of Friday. Upcoming weekly flow readings from SoSoValue will show whether the renewed pace of inflows continues.

According to Bloomberg ETF analyst Eric Balchunas, the shift in flows reflects the U.S. Treasury's plans to increase purchases of longer-term Treasuries.

Pete Hegseth Discloses Bitcoin Holdings as Household Cash Rises Above $1 Million

Defense Secretary Pete Hegseth has disclosed personal exposure to Bitcoin in his newly released 2025 annual ethics filing, which lists at least $3.1 million across cash, retirement investments and BTC. That total includes more than $1 million sitting in a single bank account. Senior executive branch officials are required to file these disclosures each year under the Ethics in Government Act.

Hegseth, a former Fox News host who became Defense Secretary in January 2025, is also facing impeachment demands from members of his own party over his handling of the war with Iran.

His filing shows five retirement accounts with a combined value of roughly $2.05 million to $4.35 million; three of those accounts were worth about $500,000 to $1.25 million. His wife, Jennifer Hegseth, reported two Rollover IRAs valued at about $1.55 million to $3.1 million. The couple also disclosed three cash accounts, one of which was reported only as being "worth more than $1 million." Their Bitcoin position was valued between approximately $16,000 and $65,000.

The broad ranges required on federal disclosure forms make a clear year-to-year wealth comparison difficult. In Hegseth's December 2024 nomination paperwork, total financial assets fell within $1.4 million and $3.4 million. In the latest filing, the lower bound is $3.1 million, with no upper limit because the largest cash account has no ceiling.

The most significant change is in the couple's bank balance. Hegseth's earlier disclosure listed an account called "U.S. Bank #2" at between $15,001 and $50,000; an account of the same name in the new filing ranges above $1 million.

Source: Cryptopolitan