Armstrong believes Bitcoin could reach this level due to several factors: its adherence to a roughly four-year market cycle, with the current downturn's bottom likely already in around $60,000; potential institutional capital unlock if the CLARITY Act provides clearer regulatory rules; increasing government spending pushing investors towards scarce assets like Bitcoin (digital gold); the GENIUS Act making regulated stablecoins structural buyers of U.S. government debt; and historical price increases ahead of the next Bitcoin halving, expected in 2028.