Coinbase Launches Tokenized Bitcoin Amid $9.5B DeFi Market Growth

Coinbase is making significant moves to expand its influence in the cryptocurrency market, highlighted by the upcoming launch of cbBTC, a tokenized version of Bitcoin on its Base network, which experts predict could reshape the tokenized Bitcoin landscape and DeFi market dynamics. CEO Brian Armstrong has set a bold target for Bitcoin to reach $1 million by 2030, citing regulatory clarity, institutional adoption, and potential government reserves, including a U.S. strategic Bitcoin reserve, as key drivers. Armstrong also advocates for institutional investors to increase their cryptocurrency allocations to 5-10 percent, anticipating substantial capital inflows and emphasizing Coinbase's growing role in supporting institutional-grade adoption through regulatory achievements and expanded product offerings. Following a dovish Federal Reserve speech, Coinbase's stock and other crypto-related equities surged alongside Bitcoin and Ethereum prices, reflecting increased market optimism. The company’s strategic initiatives, combined with favorable regulatory developments and growing institutional interest, position Coinbase as a pivotal player in the cryptocurrency ecosystem's future expansion.