BITCOIN | 'Global Leaders Should Establish Bitcoin Strategic Reserves,' Says CEO of Coinbase, the Largest Crypto Exchange in the U.S.

Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the United States, has advocated for global leaders to establish Bitcoin strategic reserves and the importance of free markets, deregulation, and technological innovation as drivers of global prosperity.

Coinbase Dominates the United States with Over 76% Market Share, Says Latest @coingecko Report

The rest of the US market share is as follows:

* Binance US – 8.3%
* https://t.co/Ti3Lx1VXP1 – 6%
* Kraken – 5.4%
* Gemini – 4.1%

Approximately 3 out of every 4 American crypto… pic.twitter.com/Adad3fAR9E

— BitKE (@BitcoinKE) April 20, 2023

In recent commentary, Armstrong highlighted significant political shifts around the world, underscoring the growing rejection of socialist and Marxist policies in favor of economic liberty.

Armstrong pointed to the 2024 U.S. election, where Donald Trump’s victory signified a public demand for greater economic freedom and free markets.

Similar trends were noted in Canada, where Pierre Poilievre is gaining traction, and in Latin America, with leaders like Argentina’s Javier Milei and El Salvador’s Nayib Bukele promoting pro-market agendas. Armstrong also observed changes in the UK and Germany, where political leaders are either embracing or facing backlash due to their economic policies.

In contrast, Armstrong criticized China’s shift under Xi Jinping, moving away from the market-friendly policies of Deng Xiaoping. He argued that China’s return to Marxist economic policies has squandered its opportunity to surpass the U.S., demonstrating the long-term inefficacy of such systems.

Armstrong is a staunch proponent of free-market capitalism, which he believes is essential for driving economic growth. He argues that:

lead to lower prices, job creation, increased tax revenue, and improved healthcare outcomes.

This, he asserts, is the most effective way to lift people out of poverty and create widespread prosperity.

Central to Armstrong’s vision is the role of cryptocurrency in fostering economic freedom. He sees crypto as a revolutionary technology that can decentralize economic power, giving individuals greater control over their financial futures. Coinbase’s mission aligns with this vision, aiming to increase economic freedom globally by leveraging crypto’s potential.

Armstrong outlined several key areas where crypto is already making a significant impact:

Armstrong expressed alarm over the global decline in economic freedom, noting that the average economic freedom score is at its lowest since 2001.

This downturn has resulted in widespread pessimism, with many Americans feeling the American Dream is out of reach and global sentiments reflecting concerns about future financial security for their children.

To counteract these trends and harness crypto’s potential, Armstrong proposes several policy initiatives: