Brian Armstrong, CEO of US cryptocurrency exchange Coinbase Global, Inc., predicted on Wednesday that Bitcoin's price could reach $1 million by 2030, citing increasingly clear cryptocurrency regulation in the United States.

During an interview with Stripe co-founder John Collison, Armstrong was asked about his prediction for Bitcoin's growth over the next decade.

"The rough idea in my head is that we'll see $1 million Bitcoin by 2030, but these things have a high margin of error," he responded.

The cryptocurrency executive attributed his optimism to improved regulatory transparency in the US, which he described as taking the "lead" among other G20 nations in the cryptocurrency space.

"The stablecoin legislation has passed, but the market structure bill is being debated in the Senate. Hopefully something will happen before the end of this year," Armstrong said.

He also mentioned the importance of strategic Bitcoin reserves, stating: "If they do that, there's now an executive order to do that, then some other countries will do that too."

Armstrong has been a steadfast supporter of Bitcoin, believing it could become the world's new reserve currency. He pointed to rising global deficits and increasing economic uncertainty as catalysts for Bitcoin's departure from the fiat currency system.