Armstrong turned on the social network X to the country’s authorities with a warning that the problem of US debt of $ 37 trillion threatens to deprive the dollar of the status of the world reserve currency. In his opinion, if Congress does not take emergency measures to reduce the budget deficit, bitcoin, thanks to the fixed offer and relative resistance to inflation, can replace the dollar.
“If the electorate does not achieve a reduction in budget deficit from the Congress and the country does not begin to pay debts, then Bitcoin can become a reserve currency. I love bitcoin, but strong America is also very important for the world. We need to take control of our finances ” – declared Armstrong.
Member of the House of Representatives of New Hampshire Keith Ammon (Keith Ammon) Addedthat the state is forced to actively print new money to limit the influence of the US growing debt. In such conditions, Ammon believes, the only way to get rid of this debt can be the accelerated devaluation of the national currency.
Although the prospects for the transition to bitcoin as a reserve currency remain vague, the very fact of a wide discussion of this possibility emphasizes the potential of digital assets in the global financial system. For crypto -investors, this is a signal for an increase in demand for bitcoin, which can increase its value and liquidity, the expert believes.
Earlier, Brian Armstrong said that his company planned to invest about 80% of Bitcoin funds, following the example of the largest holder of the first cryptocurrency, Strategy, but then abandoned this idea due to unwillingness to compete with its users.
Source: Bits
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