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The CEO of the largest American cryptocurrency exchange, Coinbase, Brian Armstrong, stated that the current decline in Bitcoin is not attributed to economic factors or quantum risks, but rather to investor psychology.
According to him, investors are primarily taking profits and adjusting their positions based on expectations of future trends.
“Cryptocurrency sometimes rises, sometimes falls, and this current correction is likely to be temporary. Bitcoin remains the most profitable asset of the last decade,” the head of Coinbase remarked.
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He emphasized that major financial institutions are already actively integrating cryptocurrencies into their investment strategies. As the regulatory framework in the U.S. becomes clearer, their involvement could significantly increase.
Armstrong noted that the crypto sector is directly transforming Wall Street. He mentioned that groundbreaking technologies—from Uber and Airbnb to artificial intelligence applications and SpaceX—have always faced resistance during their early stages of adoption.
“The smart will adapt, while the laggards will be pushed out,” the businessman asserted.
Overall, he believes that the crypto industry is in a stronger position than ever before.
Previously, Brian Armstrong outlined the reasons why the price of the leading cryptocurrency could reach $1 million within the next five years.
