Coinbase CEO: "Crypto volatility is nothing new... bullish long-term outlook intact"
Summary
- CEO Brian Armstrong said recent crypto volatility is simply part of a historical cycle, and that there is no change to the long-term growth trajectory.
- Armstrong said his long-term bullish view remains unchanged despite the volatility, and that crypto is encroaching on traditional financial services.
- Armstrong said Coinbase will continue to ship products in any market environment; Coinbase shares rose 13.0% to close at $165.12.
As the digital asset (cryptocurrency) market grapples with extreme volatility, Coinbase CEO Brian Armstrong stressed that “the recent sharp sell-off is merely part of a cycle that has always existed in crypto’s history, and nothing has changed in the long-term growth trajectory.”
On the 7th (local time), Armstrong said as much via his X account. He added, “Personally, this bout of volatility hasn’t changed my outlook at all. I don’t know how you can not be a long-term bull,” and noted that “crypto is rapidly encroaching on traditional financial services at an astonishing pace.”
He also reaffirmed Coinbase’s business direction. “Coinbase will keep shipping products and pushing forward, as we always have, in any market environment,” he said, adding, “We have a financial system that needs to be updated.”
Meanwhile, in Nasdaq trading that day, Coinbase shares closed at $165.12, up 13.0% from the previous session.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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