Coinbase CEO Brian Armstrong said that Bitcoin is a nice check and balance on deficit spending and high inflation. The executive spoke during the World Economic Forum in Davos, highlighting the way forward for the crypto industry under Trump’s administration. The Chief Executive Officer and co-founder of Coinbase crypto exchange, Brian Armstrong, said Bitcoin is a nice check and balance on deficit spending and high inflation. He explained Bitcoin’s potential in the future while speaking at the World Economic Forum in Davos, Switzerland. “Bitcoin is a nice check and balance on deficit spending and inflation, because if ever gets too out of hand, people will flee to bitcoin for safety.” — @brian_armstrong Davos 2025, Switzerland pic.twitter.com/OCAfuboCqU — Coinbase 🛡️ (@coinbase) January 22, 2025 Armstrong also said that when things get out of hand, people are more likely to flee to Bitcoin for safety. The executive referenced emerging opinions on the establishment of a wealth fund for the United States in which every citizen who turns eighteen gets a share, and when there is a surplus, it is paid out as dividends. Brian Armstrong believes Bitcoin could help the U.S. dollar preserve its reserve currency status Armstrong said in an interview with CNBC that Bitcoin could help the dollar preserve its reserve currency status and prevent the fiat currency from being inflated away like other fiat currencies. Armstrong also mentioned that if people flee Bitcoin in times of high inflation and uncertainty, it’ll provide that check and balance to extend the dollar indefinitely. The Coinbase official explained that the crypto industry had faced rough in the last four years under the Biden-Haris administration. He mentioned that the entire DeFi space felt attacked by the regulators. According to Armstrong, the reigning administration then tried to use the lack of clarity around digital assets as a weapon against the industry’s “good actors”. He acknowledged that the crypto industry also has bad actors, but the regulators went after the good ones as well. Armstrong said the crypto industry is ready for the new changes under Trump’s administration. Adding that the next big push for the industry is to try and get legislation passed in the U.S. to make it clear. During the interview, Armstrong also touched on memecoins. When asked about Trump’s memecoin, the Coinbase official highlighted that Coinbase does not try to take any positions or recommend any asset against another. He emphasized that the exchange filters for projects that meet their minimum qualifications and listing standards regarding legal compliance and then lets the market decide. Armstrong also said that anyone is free to create a collectible or a piece of artwork. He described memecoins as an emerging niche that could evolve into something powerful in the long run. ‟Bitcoin will hit the multi-million price range over time” During the interview, Brian Armstrong highlighted that Bitcoin hit a new all-time high and predicted that the asset will hit the multi-million price range over time as crypto adoption spikes among institutional investors. Armstrong also discussed how Bitcoin Exchange Traded Funds have introduced new capital from institutions to the industry. “The rest of the G20 countries would follow the U.S.’s lead if the latter accepted Bitcoin as a strategic asset for the U.S. Treasury,” he added. In an X post on January 19th titled “ Economic Freedom Created Prosperity,” Armstrong noted that Bitcoin has the potential to unleash the next chapter of capitalism, which he calls the age of economic freedom. He also mentioned that U.S. policymakers should focus on developing clear, forward-looking regulatory frameworks that nurture the growth and development of the crypto industry. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
