The CEO of Coinbase, Brian Armstrong, is calling on heads of states worldwide to create Bitcoin reserves, arguing that the cryptocurrency is a reliable asset that can strengthen economies and protect nations.
Armstrong wrote a blog post on January 17 where he labelled crypto as ‘the next chapter of capitalism’ and provided insights on how central economies can integrate digital assets into their systems by 2025.
He suggested crypto-friendly legislation, efficiency of the state administration, and special economic zones, as well as emphasizing that Bitcoin can become an equivalent of gold in the world economy.
“The next global arms race will be in the digital economy, not space,” Armstrong underlined, noting that Bitcoin could change the existing balance of power between countries.
Coinbase has also increased its lobbying power, contributing over $45 million to the Fairshake PAC in the 2024 election cycle and $1 million to President-elect Donald Trump’s inauguration fund. Trump allegedly met Armstrong in November, which may indicate that they plan to work together on crypto-friendly legislation.
Kara Calvert, Coinbase’s vice president of US policy, showed positive sentiments about engaging with the new administration but declined to discuss a national Bitcoin reserve. Trump has previously suggested that he wants to put emphasis on crypto and even accumulate Bitcoin.
However, Coinbase has legal issues that are still active to this day. The SEC sued the exchange for acting as an unregistered securities market in 2023 in a case that has not proceeded to trial yet.
Coinbase has also sued the SEC and the FDIC for alleged attempts to ‘debank’ crypto companies. By the year 2025, the impact of Coinbase on the US crypto policy could redefine the future of the industry.
Also Read: Poilievre Might Introduce Bitcoin Reserve if Elected PM in Canada
