Coinbase CEO: US crypto reserve should be Bitcoin-only
The post Coinbase CEO: US crypto reserve should be Bitcoin-only appeared on BitcoinEthereumNews.com.
Coinbase CEO Brian Armstrong has joined the ongoing debate on the US crypto reserve. Armstrong has suggested that the US should adopt a Bitcoin-only approach when establishing a national crypto reserve, confirming his stand and support for Bitcoin over the years. Armstrong was reacting to President Trump’s suggestion that the national crypto reserve hold several altcoins. The CEO has joined several Bitcoiners in condemning the idea of having anything other than Bitcoin in the reserve. Most people who believe in Bitcoin have said it is the only cryptocurrency worth hosting in the crypto reserve due to its performance over time. Armstrong’s position has received different feedback, with some users on X bashing his open love for Bitcoin at the expense of other crypto. However, a number of comments have also supported his idea, stating that only Bitcoin can be characterized as a store of value. Coinbase CEO champions Bitcoin as the superior reserve asset Armstrong has openly shown his faith in Bitcoin for a long time. He holds that Bitcoin has unique properties that make it better than other cryptos. For instance, he said Bitcoin scarcity is a strength that can only be compared to Gold. Yet, its portability and divisibility outdo Gold; therefore, it’s best for reserve. At the recent World Economic Forum in Davos, the CEO expressed optimism about Bitcoin’s ability to surpass Gold in market capitalization. He is also confident that other countries, including the G20 members, would follow suit if the US Bitcoin were a national reserve. However, his position contradicts Trump’s broader approach, which aims to support the entire cryptocurrency industry by including a range of digital assets in the reserve. Following Trump’s announcement, Bitcoin’s price surged past $94,000, while Ethereum, Solana, XRP, and Cardano also saw significant gains. People hold different perspectives on a…
Filed under: News - @ March 3, 2025 6:15 am