Influencing the Future of Western Civilization: Brian Armstrong’s Perspective
In a recent statement, Coinbase CEO Brian Armstrong shares his belief that Bitcoin could be the key to prolonging the success of western civilization. He points out that throughout history, nations with reserve currencies tend to engage in inflation and deficit spending until they lose their advantage.
Armstrong Believes Fiat Will Stick Around
While acknowledging the challenges faced by the Yuan and Euro, Armstrong explains that they are not viable alternatives. He also notes that the assumption is that the U.S. can persist in inflation. However, he highlights the rise of cryptocurrency as a significant factor often overlooked.
“The natural trend of whichever country has the reserve currency is to inflate the money supply and increase deficit spending until it loses that advantage.”
He reiterates that shifting from fiat to crypto provides people with an option to counter inflation.
Armstrong Highlights Importance of Stablecoins
Contrary to concerns, Armstrong assures that this shift isn’t a threat to the dollar or the U.S. Instead, he sees it as a natural check and balance, complementing the dollar and serving as a defender of long-term American interests and western civilization. He believes opting for crypto over another country’s fiat is a more prudent move.
Armstrong also emphasizes that fiat and crypto will likely coexist for an extended period, operating as complements rather than substitutes. Dollar-backed stablecoins like USDC are expected to play a crucial role in bridging these two financial realms.
Hot Take: Bitcoin’s Potential Influence on Economic Stability and Western Civilization
Brian Armstrong reflects on these ideas, highlighting the potential for Bitcoin to shape the economic landscape and act as a defender of economic stability and the values of western civilization.
Read more: Coinbase Vs Robinhood: Which Is The Best Crypto Platform?
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