Brain Armstrong, CEO of Coinbase, Speaks Positively About Bitcoin

Brain Armstrong, Co-Founder and CEO of Coinbase, made important statements about the cryptocurrency leader Bitcoin (BTC), which has been falling sharply these days. Armstrong stated that he believes that BTC can one day replace the US dollar as the global reserve currency, and that Bitcoin has a high chance of becoming the world's reserve currency.

According to a report, when asked by Justin Mart about crypto's place in the changing world order, the CEO of Coinbase replied: “You know, an alternative to the fall of the United States and the rise of China is still a very country-centric worldview. The new world order must be a country. But I think things might be a little different this time around, which is when we have a new global gold standard introduced with Bitcoin. And there are about 200 million people in the world trying crypto at this point. That's a lot, but not even close to the dollar effect or anything like that. I think most people in the world would think it's crazy to say that or an opposing view or whatever. But I think Bitcoin has a chance to become the new global reserve currency.” Brain Armstrong, Co-Founder of Coinbase, made the following statements in his crypto assessment last month: “We see a bearish market for growth tech stocks and risky assets. And of course, Coinbase and crypto are no exception… 54 percent of our active users are now doing something other than trading crypto. They actually use crypto in various ways. And so, our thesis of moving away from being just a trading platform to enabling the entire crypto economy and becoming primary financial account people is really starting to pay off. But for now, regardless of whether the market is up or down, we will continue to build. And I think the real key is to mentally move from viewing down markets as scary to actually having opportunities to move forward. And that's exactly what we're going to do in this environment. 54 percent of our active users are now doing something other than trading with crypto. And if you're wondering what they're doing? Everything you can use money for and more. They make money with crypto, there are opportunities to borrow and lend, and increasingly, this huge ecosystem of third-party apps or 'dapps' – decentralized apps – is probably right now where people do all kinds of new things with games, social, art and music there are more than 1,000 new things created. I think this is similar to the early days of the Internet where you saw the birth of e-commerce in the late 90s, early 2000s and fast forward 20 years now, e-commerce is something like 15 percent. global GDP. And I think if you go forward 20 years from here, the crypto economy will likely represent a large portion of around 15 percent of global GDP.”