FX.co ★ Coinbase CEO says Bitcoin already at its bottom and calls wealth tax “unethical”

Brian Armstrong, CEO of cryptocurrency exchange Coinbase, believes Bitcoin has already passed the lowest point of the current downturn and will move into a confident uptrend over the next couple of years. In an interview with Bloomberg TV, he recalled that the flagship cryptocurrency follows familiar four‑year cycles and typically rises ahead of the next halving. He attributed the recent slide below $80,000 to temporary factors: the escalation of the US–Iran conflict and soaring US Treasury yields, which prompted investors to withdraw funds en masse from risk assets.

Brian Armstrong also underscored a notable improvement in the regulatory picture for crypto in the United States. According to him, a key industry bill is already in the final stage of consideration in the Senate. Even if formal approval is delayed, regulators are prepared to issue clear rules for crypto firms within a matter of weeks, providing businesses with transparent operating conditions regardless of legislative disputes.

As for the main catalysts for digital assets, the Coinbase chief highlighted trading in digital equivalents of traditional stocks, settlements in stablecoins, bullish forecasts, and payment solutions for artificial intelligence. At the same time, Armstrong strongly condemned plans by California authorities to introduce a wealth tax. In his view, such a measure is unethical, forcing high-tech entrepreneurs to leave the region in haste and ultimately creating huge holes in the state’s own budget.