The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Coinbase CEO Says Bitcoin (BTC) and Cryptocurrency Were Built for Moments Like This

by Daily Hodl Staff
March 30, 2020
in Bitcoin
Bitcoin defi infrastructure

Coinbase, the leading cryptocurrency exchange in the United States, held a virtual staff meeting to update its employees on the company’s strategy during the Covid-19 pandemic.

During the session, CEO Brian Armstrong said Bitcoin is made for the type of crisis the world is currently facing. Satoshi Nakamoto’s main motive for creating BTC, some speculate, was to establish a new financial system with greater resiliency.

“The good news is that Bitcoin was built for this… Bitcoin is amazing – it’s global, it’s inflation proof, it is digital. It’s the money that people need right now in this moment.” 

Armstrong notes that the US and governments around the world are all in the process of promoting massive expansions of their countries’ respective money supplies with stimulus packages and bailouts to combat the economic fallout from the pandemic.

“Just about every sector of the economy is really struggling. Manufacturing people don’t want to go into factories if they can’t social distance, and retail has been decimated. Travel is really struggling. We might even see some of these investment banks needing to be bailed out, so in some ways it’s incredibly lucky that we as a tech company are able to continue to work at all because almost every sector of the economy has been really struggling…

So what does this actually mean in practice? Well, when you put a bunch more money into the ecosystem, and the number of goods is not really going up due to manufacturing slowdowns, that means over time there’s going to be higher prices. There’s basically going to be inflation. And when that happens people try to look for alternative investments that are inflation proof, that basically have guaranteed scarcity baked into them. So that is a great case for Bitcoin and also other asset classes – real estate and things like that – that are hedges against inflation.” 

Armstrong also compares the current state of crypto to the early days of the internet.

“Crypto is going through all these growing pains. It needs to become more scalable. It needs to become more usable for average people, and that’s how we’re going to get it to be 100 million and a billion people, and that’s the infrastructure that Coinbase is really providing.”

The CEO says the company’s vision to provide economic freedom “for every person and business out there.”

“Economic freedom means sound money for everybody. It means property rights. It means free trade. It means you can go work at the company you want to work at, start the company you want to start…

We’re going to use cryptocurrency at this unique moment in history to go build a more open financial system that creates economic freedom for people all over the world.” 

Coinbase plans to usher in the next phase in global finance by executing three broad steps: 1) further enabling crypto investment, 2) connecting the crypto economy, initally by offering Coinbase account holders a variety of payment and commerce products, and 3) growing the economy at-large by supporting crypto development.

With all of the rapid changes and turmoil stemming from the coronavirus outbreak, however, the CEO says immediate expectations need to be tempered.

“There’s a new top level priority … you and your families should prioritize putting yourselves in safety. That’s the number one priority. And we also just need to make sure that we can maintain business as usual during all of this …

Some of our ambitions around 2020, we may need to scale some of these things back given this new reality.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/adike

Submit a Press Release

Industry Announcements

  • BestChange.com Revolutionizes Cryptocurrency Exchanges With User-Centric Features and Trusted Network
    October 2, 2023
  • Radix Babylon Upgrade Marks New Era for Web 3.0 User and Developer Experience
    September 28, 2023
  • Tyrion Set To Decentralize the $377 Billion Digital Advertising Industry
    September 25, 2023
  • Hydranet Launches Layer Three Dex – A Game Changer for Trustless Cross-Chain Trading
    September 25, 2023
  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,508.37
$27,508.37
1.72%
Ethereum
$1,662.32
$1,662.32
4.08%
Cardano
$0.259092
$0.259092
2.61%
XRP
$0.512186
$0.512186
2.32%
Dogecoin
$0.062026
$0.062026
2%

Spotlight

  • Bitcoin Flashing Relative Strength Against Stock Market Despite Deteriorating Macro Conditions: Analytics Firm
    September 25, 2023
  • Many Altcoins Won’t Recover After Massive Collapse, Says Crypto Analyst Benjamin Cowen – Here’s His Forecast
    September 25, 2023
  • Here’s When Bitcoin (BTC) May Print the Top of Its Post-Halving Bull Run, According to Crypto Strategist
    September 25, 2023
  • Ex-Goldman Executive Says Liquidity Injection Will Ignite Explosion in Crypto Space Amid Rapid Building
    September 25, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl