Coinbase CEO Sees Bitcoin as Western Civilization’s Shield
Brian Armstrong, the CEO of Coinbase, expressed a viewpoint suggesting that Bitcoin (BTC) could play a crucial role in sustaining the future of Western civilization.
In his remarks on the social media platform X, Armstrong highlighted the inherent trend among countries that possess the global reserve currency to inflate their money supply and escalate deficit spending until they relinquish their currency dominance.
He pointed out that the United States is currently undergoing this process, emphasizing that while other fiat currencies like the yuan and euro have their own challenges, they are not yet viable alternatives to assume the reserve currency status.
He emphasized that this transition to crypto should not necessarily be viewed as a threat to the dollar and the US but rather as a natural balancing force that could complement the dollar while safeguarding long-term American interests and the broader scope of Western civilization.
Anticipating a coexistence between crypto and fiat currencies, Armstrong highlighted the role of technological advancements, particularly citing stablecoins as a bridge between these two financial worlds.
Furthermore, Armstrong sees Bitcoin as an embodiment of the enduring principles of economic freedom within Western civilization. He emphasized its potential to extend the fundamental tenets such as property rights and sound money, which have historically contributed to the success of Western civilization and its economic philosophy.