Bitcoin (CRYPTO: BTC) rose 25% in August. That’s making a lot of investors giddy about where Bitcoin could be headed next. Is the next big breakout coming soon?
Coinbase Global CEO Brian Armstrong seems to think so. Speaking recently on the Fox Business Network, he suggested that it’s “very likely” Bitcoin could reach $300,000 to $400,000 by 2030.
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Bitcoin’s path to $300,000
Of course, a lot will need to go right for that to happen. For one, Bitcoin needs to maintain its upward momentum to end the year around the $100,000 price level. That will likely be enough to regain the attention of retail and institutional investors.
From there, Bitcoin would need to grow at a compound annual growth rate (CAGR) of 31.6% to triple in value to $300,000. And it would need to grow at a 41.4% CAGR to quadruple in value to $400,000.
While those are certainly aggressive growth forecasts, they are not entirely out of the question. After all, from August 2017 to July 2026, Bitcoin has grown at a CAGR of 33.6%.
That time period includes several epic collapses, too. For example, in 2018, Bitcoin lost 73% of its value. In 2022, Bitcoin lost 64% of its value. And since October 2025 (when it hit an all-time high of $126,000), Bitcoin is down 36%.
That’s what makes Bitcoin’s performance over the past decade all the more impressive. The growth trajectory has never been straight up, and Bitcoin has had to rebound from several significant reversals over the years. But, each time, it has rebounded to a new all-time high.
Going forward, Bitcoin will need a major catalyst to jump-start those 3x or 4x gains. According to Armstrong, the catalyst will be the passage of the Digital Asset Market Clarity Act (“Clarity Act”). This legislation is designed to lift the prospects of the entire crypto market, and Bitcoin is near certain to go along for the ride.
What happened to Bitcoin’s $1 million price target?
The only problem is that, last year at this time, Armstrong was publicly predicting that Bitcoin would hit $1 million by 2030. At the time, Bitcoin was rocketing to a new all-time high, and the future looked bright indeed.
And it’s not only Coinbase that thought Bitcoin would hit $1 million by the end of the decade. Cathie Wood of Ark Invest also suggested that $1 million would be an appropriate price for Bitcoin by 2030.