Coinbase CEO Brian Armstrong said Bitcoin has likely already reached its cycle bottom, expects an uptrend within the next one to two years, and said Coinbase will soon launch tokenized stocks in the United States.

Armstrong’s remarks bundled together market outlook, regulation, and product plans. On Bitcoin, he said the asset has already made its cycle bottom and is likely to enter an uptrend over the next one to two years. That view was presented as his expectation rather than as a confirmed market development.

On the policy side, Armstrong said the US Congress’ Clarity bill is nearing a final agreement. He also said he expects clearer guidance from the Securities and Exchange Commission and the Commodity Futures Trading Commission within one to two weeks, regardless of whether the bill passes on that timeline.

Armstrong separately said Coinbase will soon launch tokenized stocks in the US. He did not disclose launch timing, the legal structure of the offering, which stocks may be included first, or how the product would be integrated with Coinbase’s existing platform.

He also outlined four themes he believes will shape the crypto market through 2027: stablecoin payments, tokenization of stocks and real-world assets, prediction markets, and smart-agent finance. Those areas have become central talking points across the industry as exchanges, payment firms, and blockchain projects look for growth beyond spot token trading.

Why It Matters

The most significant part of Armstrong’s comments is not the Bitcoin cycle call but Coinbase’s push toward tokenized equities in the US. If launched, the product would add to the industry’s effort to bring traditional financial assets on-chain while testing how far US platforms can go under current securities rules.

His regulatory comments also matter because they frame tokenization and other crypto business lines as increasingly dependent on clearer boundaries from Congress and federal agencies. Even without immediate policy changes, the combination of exchange infrastructure, stablecoin rails, and tokenized assets is becoming a more important competitive battleground for large crypto platforms.