Coinbase CEO Defends Crypto Against Dollar Threat Claims

Key Points:

• Coinbase CEO, Brian Armstrong, believes Bitcoin may extend Western civilization by providing an alternative to fiat currency.
• Armstrong sees crypto as a natural check and balance to the inflationary tendencies of reserve currencies like the US dollar.
• He emphasizes the coexistence of fiat and crypto, with stable coins like USDC playing a major role in bridging the two worlds.

Coinbase CEO defends crypto as the key to extending Western civilization, offering an alternative to fiat currency and serving as a complement, not a threat, to the U.S. dollar. 

Coinbase CEO, Brian Armstrong, defends the idea that Bitcoin may be the key to extending Western civilization. He argues that as the natural trend of countries with reserve currencies is to inflate the money supply and increase deficit spending, the United States is currently on this journey.

One idea I’ve been contemplating is that Bitcoin may be the key to extending western civilization.

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. The U.S. is somewhere on…

— Brian Armstrong 🛡️ (@brian_armstrong) December 3, 2023

While the Yuan and Euro are not viable alternatives, Armstrong believes that people now have an alternative with cryptocurrencies. He suggests that individuals may start moving fiat currency into crypto as a way to counteract inflation.

Contrary to popular belief, Armstrong does not see this as a threat to the U.S. dollar and the country itself. Instead, he views it as a natural check and balance that will complement the dollar and serve as the best defender of long-term American interests and Western civilization as a whole.

Coinbase CEO Defends Crypto As The Key To Extending Western Civilization

In his opinion, it is better to transition from dollars to crypto rather than to another country or region’s fiat currency. Armstrong also believes that both fiat and crypto will coexist for a long time, as they are more complementary than substitutes.

He emphasizes the role of dollar-backed stable coins like USDC in unifying these two worlds. While Armstrong is still exploring this idea, he invites other perspectives on the matter.

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