Coinbase CEO: Adopting Bitcoin Is A Return To The Gold Standard
Coinbase CEO Brian Armstrong suggested on March 12 that widespread Bitcoin adoption could mirror a return to the gold standard, potentially stabilizing the U.S. economy in the face of escalating national debt.
In a post on X, Armstrong underscored the potential of Bitcoin as a financial tool that could curb excessive government spending in the United States. This insight was shared in response to concerns raised by CFO Robert Sterling about the escalating national debt.
The CFO pointed out the alarming rate at which the debt is accumulating. Worryingly, the analyst said “trillion-dollar increments” were being added at an increasingly rapid pace. Sterling said the rate of money printing transcends political affiliations and demands “urgent attention.”
Armstrong pointed out the unique attributes of Bitcoin that could help curb unchecked money printing. For example, unlike the USD, which the Federal Reserve can print at will, Bitcoin has a finite supply of 21 million BTC.
This is (in part) why Bitcoin matters. It’s a return to the gold standard that we left fully in 1971. A return to financial discipline.
Bitcoin will be an important check and balance on excessive deficit spending which is essential to the U.S. and the dollar remaining strong. https://t.co/u4mN5SgPTX
— Brian Armstrong
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