It seems that the CEO of Coinbase, Brian Armstrong, thinks very highly of Bitcoin. Check out what he had to say about the capacities of the king coin below.
Bitcoin could extend the lifespan of Western civilization
Coinbase’s CEO, Brian Armstrong, believes that Bitcoin (BTC) has the potential to prolong the existence of Western civilization.
Armstrong expressed his views on the social media platform X, stating that 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.
According to Armstrong, the US is currently undergoing this process, but he argues that other fiat currencies are not yet ready to take on the reserve mantle.
“The yuan and euro have their own issues and aren’t viable alternatives currently, so the assumption is the US can continue to inflate, but what I think many haven’t considered is that people have an alternative now with crypto. They may start moving fiat into crypto, as an antidote to inflation.
Contrary to what some may assume, I don’t think this be a threat to the dollar and the US, I think it will be a natural check and balance that will complement the dollar, and be the best defender of long-term American interests (and Western civilization more broadly). It’s better to move from dollars to crypto than to another country or region’s fiat.”
Armstrong believes that cryptocurrency and fiat currency will coexist for a long time, especially with the emergence of stablecoins that combine the best of both worlds.
He also views Bitcoin as an extension of the fundamental principles of Western civilization.
According to him, Bitcoin would continue to uphold the core tenets of economic freedom, such as property rights and sound money, which have been instrumental in the success of Western civilization.
These principles are at risk of being lost periodically, and Bitcoin can help preserve them for a long time.
