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Bitcoin As World Reserve? Coinbase CEO Says It’s Inevitable
In a recent statement, Brian Armstrong, the Chief Executive Officer (CEO) of Coinbase, has made a bold prediction about the future of cryptocurrency. Speaking at the company’s annual State of Crypto Summit on June 12th, Armstrong expressed his belief that Bitcoin could potentially become the world reserve currency.
The idea may seem far-fetched to some, but Armstrong explained it further during his address. He pointed out that money serves both as a medium of exchange and store of value, praising dollar-pegged stablecoins for achieving the former beautifully while arguing that fiat currencies are failing at the latter. In fact, he emphasized that democracies worldwide are struggling to control their deficit spending, which could lead people fleeing to Bitcoin in times of uncertainty.
Armstrong’s reasoning revolves around Bitcoin’s algorithmically fixed 21 million-coin limit, which would act as an external brake on governments accustomed to monetizing deficits. He has been cautioning for months now that such fiscal trajectories, if left unaddressed, could trigger a global exodus from sovereign currencies.
The CEO’s forecast resonated with the audience, particularly in light of a recent White House move. In March, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve and a US Digital Asset Stockpile, directing the Treasury to consolidate forfeited BTC and buy more coins under budget-neutral conditions. The administration has also pledged to unveil the architecture of its Strategic Bitcoin Reserve “in short order.”
Source: bitcoinist.com
