Brian Armstrong is confident that the first cryptocurrency will play an important role in the development of Western civilization and its expansion. State currencies will continue to suffer from inflation until they cease to have the advantages of a means of payment. According to Armstrong, the US dollar is already on this path, and there are no other alternatives as other fiat currencies have the same problems.
“The yuan and euro face similar difficulties, they are now difficult to call a viable alternative, and inflation will continue in the United States. The hope lies in cryptocurrencies, even if most people still don’t think about it. It’s better to move from dollars to cryptocurrency than to fiat money from another country or region,” Armstrong emphasized.
However, the head of Coinbase does not believe that Bitcoin will “kill” the US dollar. On the contrary, cryptocurrency will become a deterrent to inflation. In the long term, Bitcoin can protect the American people and the interests of Western civilization. According to Armstrong, fiat money and cryptocurrencies complement each other rather than replace each other, so they will exist together for a long time.
Recently, Armstrong spoke out about the situation with the world’s largest crypto exchange, Binance, which had problems with American law enforcement. The Coinbase CEO believes that Binance may have actually ignored regulatory rules and promised that similar incidents will not happen to Coinbase.
Source: Bits
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