Coinbase CEO Brian Armstrong Believes Bitcoin Can Prolong Western Civilization
Brian Armstrong, the CEO of Coinbase, believes that Bitcoin (BTC) has the potential to extend the lifespan of Western civilization. According to Armstrong, it is a natural trend for countries that mint the world’s reserve currency to inflate the money supply and increase deficit spending until they lose their currency advantage.
Armstrong argues that while the US is currently going through this process, other fiat currencies are not yet ready to take on the reserve mantle. However, he believes that people now have an alternative with cryptocurrencies. They may start moving fiat into crypto as a hedge against inflation.
Contrary to popular belief, Armstrong does not see this as a threat to the US dollar or the country itself. Instead, he views it as a natural check and balance that will complement the dollar and protect long-term American interests.
The Coexistence of Crypto and Fiat
Armstrong predicts that cryptocurrency and fiat will coexist for a long time, especially with the emergence of stablecoins that bridge the gap between the two worlds. He also sees Bitcoin as an extension of the core principles of economic freedom in Western civilization.
Bitcoin, according to Armstrong, can uphold essential tenets such as property rights and sound money that have contributed to the success of Western civilization.
Hot Take: Bitcoin’s Role in Preserving Economic Freedom
Brian Armstrong, CEO of Coinbase, believes that Bitcoin has the potential to prolong the existence of Western civilization by preserving key principles like economic freedom. He argues that as countries continue to inflate their fiat currencies, people now have an alternative with cryptocurrencies like Bitcoin. Rather than threatening the US dollar or American interests, Armstrong sees crypto as a natural check and balance that complements traditional fiat. He predicts that crypto and fiat will coexist for a long time, especially with the advent of stablecoins. In this way, Bitcoin can uphold the core tenets of economic freedom that have made Western civilization successful.
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