TLDR
- Bitcoin climbed above $75,000, gaining over 11% in 24 hours
- Coinbase CEO Brian Armstrong says crypto may be at the start of its next bull market
- The CLARITY Act faces a procedural Senate vote on September 15
- US spot Bitcoin ETFs pulled in $517 million on August 19, their best day since May
- Armstrong predicts Bitcoin could reach $300,000 to $400,000 by 2030
Bitcoin is trading above $75,000 and the CEO of one of America’s biggest crypto exchanges thinks the next bull run may have already begun.
Brian Armstrong, CEO of Coinbase, told CNBC on August 20 that the crypto market is “likely at the starting point of the next bull market.” He pointed to three main reasons: how long the current downturn has lasted, an upcoming Senate vote on crypto legislation, and Bitcoin’s historically strong performance in the final months of the year.
🔥BOLD CALL: Coinbase CEO Brian Armstrong says Bitcoin is “very likely” to reach $300,000 to $400,000 by 2030.
He cited improving U.S. crypto regulation following this week’s White House meeting. pic.twitter.com/LIseUuY9RV
— Coin Bureau (@coinbureau) August 20, 2026
Bitcoin hit an intraday high of around $72,868 on August 20 and was trading near $72,660 later in the session. That follows a climb from below $65,000 earlier in the week.
What Pushed Bitcoin Higher
Several factors combined to drive the rally. Over $1 billion in short positions were liquidated within one hour during the initial breakout, according to CoinGlass. When Bitcoin pushed through resistance between $65,000 and $67,000, traders holding leveraged bets against it were forced to buy, adding fuel to the move.
US spot Bitcoin ETFs also saw strong demand. SoSoValue data showed $517 million in net inflows on August 19, the strongest single day since May. That figure alone exceeded the roughly $172 million collected across all of July.
Armstrong also cited the April 2024 halving, which cut miner rewards from 6.25 to 3.125 Bitcoin per block. Previous halvings were followed by major rallies, though each cycle played out under different conditions.
The CLARITY Act Vote
The Digital Asset Market Clarity Act is scheduled for a procedural Senate vote on September 15. Senate Majority Leader John Thune filed a motion on August 8 to begin considering the bill.
Armstrong told CNBC he is “pretty optimistic” the bill will clear 60 votes, saying both sides have around 90% of what they want. However, the September 15 vote is only procedural. It would allow the Senate to formally debate the bill, not pass it.
The House approved its version 294 to 134 in July 2025. The Senate Banking Committee advanced its portion in May 2026 with a 15 to 9 vote. Republicans hold 53 Senate seats, meaning the bill needs Democratic or independent support to reach the 60-vote threshold.
Unresolved issues include stablecoin rewards, anti-money-laundering rules, decentralized finance treatment, and how to split oversight between the SEC and CFTC.
Coinbase’s Changing Revenue Mix
Armstrong noted that Coinbase is less dependent on Bitcoin spot trading than it once was. Bitcoin now makes up about 12% of the company’s revenue, down from over half historically.
Subscription and services revenue reached $555 million, compared to $6 million per quarter in 2020. Coinbase shares rose around 7% on August 20 to trade near $171.34.
Armstrong also flagged “agentic finance” or “AI-fi” as a major future opportunity, expecting AI agents to eventually need financial infrastructure to transact autonomously.
In a separate Fox Business interview, Armstrong said Bitcoin could reach between $300,000 and $400,000 by 2030.
