Coinbase Urges US Bitcoin Reserve, Predicts “Digital Arms Race”
In a recent development, Coinbase, the largest cryptocurrency exchange in the United States, has voiced its support for the creation of a US strategic Bitcoin reserve. This support comes just ahead of Donald Trump's second inauguration and Brian Armstrong's trip to the World Economic Forum. This is also the first time Coinbase has directly mentioned the idea of a strategic Bitcoin reserve.
With major political events looming, could this move make a difference? Read on to find out.
'We must realize the potential of cryptocurrencies!'
In a blog post published Friday, Coinbase CEO Brian Armstrong urged world leaders to recognize the benefits of cryptocurrencies. He stressed that cryptocurrency adoption can help promote economic freedom.
“Economic growth comes from free-market capitalism, deregulation, small government and technological innovation,” he noted. “If the rest of the G20 wants to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets.”
Armstrong outlines four actions
Armstrong outlined four key actions he believes leaders should take to foster a technologically optimistic future. The first is to pass pro-crypto laws that encourage innovation and growth in the sector. The second is to launch a strategic Bitcoin reserve, which Armstrong calls essential to the future of the global economy.
“The next global arms race will take place in the digital economy, not in space,” he wrote in the post.
Armstrong also proposed the creation of special economic zones focused on the digital asset economy. He expressed support for the new Department of Government Efficiency (DOGE) headed by Elon Musk, while emphasizing the need for more efficient government systems.
The push for pro-crypto policies
Coinbase, led by Armstrong, has been a strong advocate for pro-crypto policies and regulations, especially opposing the SEC. Coinbase recently launched Bitcoin loans for US users .
The launch allows US users to borrow BTC directly from cryptocurrency exchanges . As the US focuses more on the future of Bitcoin, several states are exploring cryptocurrency options, including proposing a strategic Bitcoin reserve.
As global leaders turn their eyes to the digital economy, the discussion about Bitcoin's role in shaping future markets is just beginning.