Coinbase CEO: What It Takes To Reach Mass Adoption
At the moment of writing this article, BTC is slowly going down a bit, and the king coin is priced at $10,898.72.
This has been a massive move that the king coin made the past day, and investors will definitely remember it – it was the first time when BTC hit $11k in 2020 – this terrible year that managed to change people’s lives probably for good.
Brian Armstrong talks about the mass adoption of crypto
Coinbase CEO Brian Armstrong believes Bitcoin and crypto must evolve and become easier to use before we see mass adoption.
The mainstream adoption of Bitcoin and digital assets has been one of the most important goals in the crypto space.
In a new interview with Peter McCormack, the host of the What Bitcoin Did podcast, Armstrong said that BTC needs to follow the internet’s lead in terms of usability.
“We have not taken any unnecessary risks with [Bitcoin], and we have ensured that it is going to probably survive the test of time as the gold standard, and we may find other solutions with scalability with layer two. I guess the other way to look at it is, ‘What would have happened if we had found a way to safely scale it?’ Maybe we would not have had a need for some of these other chains that have come up and divided focus,” he said.
He continued and explained, “I do think it has harmed the usability of cryptocurrency a little bit that even when people come to Coinbase, and there are so many different coins, they have to think about, ‘Well, if I want to use DeFi I’ve got to find this other protocol and learn about it.’ It has increased the learning curve for new people to get into cryptocurrency.”
He concluded by saung that Bitcoin has to be able to be used easier before hitting a billion people.
We recommend that you check out the original article posted by the Daily Hodl in order to learn what more Armstrong had to say.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.