Coinbase CEO Brian Armstrong Says $400,000 Is Within Reach for Bitcoin. Here's Why He's Right.
To hit a price of $400,000 by the end of 2030, Bitcoin will need to deliver a compound annual growth rate of 51%.
Overview
Bitcoin (CRYPTO: BTC) is back. Or, at least, that's what the crypto bulls would have you believe after a phenomenal August, in which Bitcoin gained 23%. In fact, Coinbase Global CEO Brian Armstrong now thinks that Bitcoin -- currently trading at $77,000 -- could hit a price of $400,000 by the end of 2030.
So what would it take for that to happen, and just how likely is it?
Details
The starting point, of course, is figuring out how fast Bitcoin will need to grow over the next four years. Assuming it ends 2026 at its current $77,000 level, Bitcoin will need to grow at a compound annual growth rate (CAGR) of 51% over the next four years to reach $400,000.
Source
Originally published at www.fool.com.