Coinbase CEO Brian Armstrong is optimistic Bitcoin (BTC) could one day usurp the US dollar’s role in the world.
“One alternative to, you know, the US decline and China’s rise is still a very country-centric view of the world. It’s one country has to be the new world order.
But I think things may be a little different this time, which is that we have a new global gold standard that’s been introduced with Bitcoin.
And there’s only 200 million people in the world or so who have tried crypto at this point. That’s a lot, but it’s nowhere near maybe the influence of the dollar or something like that.
I think most people in the world would consider this to be a crazy thing to say, or a contrarian view or whatever. But I think there’s a chance that Bitcoin becomes the new global reserve currency.”
Can Bitcoin become the world’s future reserve currency? pic.twitter.com/I4LADjrYPu
— Coinbase (@coinbase) June 8, 2022
The Coinbase CEO says the potential loss of the dollar’s global dominance is nothing unique as fiat currencies tend to have a limited lifespan once they cease being backed by a commodity such as gold.
“Fiat currency historically starts off connected to some kind of hard commodity like gold or something. But every single one of these fiat currencies in history, I think there’s been thousands of them, they eventually break the peg with the hard commodity underneath and then they eventually inflate away.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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