Brian Armstrong, CEO of Coinbase, has reported on his regular investments in Bitcoin, reaffirming his confidence in the future of this cryptocurrency.
Brian Armstrong's Investments in Bitcoin
In a recent tweet on platform X (formerly Twitter), Brian Armstrong stated that he buys more Bitcoin every week. This announcement came as Coinbase's stock hit a historic high of 375.25, surpassing its previous record from November 2021.
Long-Term Predictions for Bitcoin
Armstrong has long expressed optimism regarding Bitcoin, predicting its price could reach millions. He believes it is only a matter of time before nations start holding Bitcoin on their balance sheets, which could shift the global economic balance. "We're buying more Bitcoin every week," Armstrong noted.
State of the Cryptocurrency Market
The recent rise in Coinbase's stock price occurred amid challenging times for the cryptocurrency industry. The FTX crash in 2022 was painful for the market, but Coinbase managed to recover and strengthen its position. Its inclusion in the S&P 500 is seen as a positive signal for investors and may help in the broader acceptance of cryptocurrencies.
Brian Armstrong's investments in Bitcoin and his confidence in its future highlight the growing support for the cryptocurrency, despite the challenges facing the industry.
