Coinbase CEO Brian Armstrong predicted that Bitcoin (BTC) will reach the “multiple millions price range” if countries begin implementing strategic Bitcoin reserves following the US.

Speaking during an appearance on CNBC’s Squawk Box, Armstrong argued that institutional adoption, the approval of crypto-related exchange-traded funds (ETF) in the US, the potential approval of friendly legislation, and the implementation of a strategic Bitcoin reserve in the US are all significant drivers that can propel the flagship crypto to new heights in the coming years.

According to Armstrong:

“If the US took that path, probably the rest of G20 would follow. I’ve discussed with a number of finance ministers here in Switzerland from different countries around the world the idea of a strategic Bitcoin reserve. They are getting more interested in it now because the US is looking into it.”

He added that Bitcoin has a long way to go, as it will be the new gold standard globally, with the crypto market being even larger than BTC itself.

Heralding financial freedom

Speaking at the Coinbase House in Davos during this year’s edition of the World Economic Forum, Armstrong discussed the role of crypto in heralding financial freedom.

He emphasized the significance of stablecoins and highlighted that they have given access to dollar exposure in countries affected by hyperinflation with just a smartphone.

However, Armstrong argued that the “dollar is not perfect either,” which could be an opportunity to encourage people to consider Bitcoin’s characteristics — such as scarcity — as the new gold standard.

Additionally, he called inflation an “insidious thing” that only affects the “poorest people” holding nothing but cash. He further stated:

“If we actually return to sound money, like this new gold standard, that actually could be foundational to prevent the abuse of many of the fiat currencies and over-printing around the world.”

Rising adoptionGo to Source to See Full Article
Author: Gino Matos

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