The cryptocurrency industry has long harbored optimism towards the Donald Trump administration, with many eyeing his promise to establish a strategic U.S. Bitcoin reserve. Recently, Coinbase CEO Brian Armstrong shared his thoughts on what such a move could mean for Bitcoin’s price, sparking even more excitement in the crypto space.
In an interview with Yahoo Finance at the World Economic Forum in Davos on January 21, Armstrong expressed strong belief that the creation of a U.S. Bitcoin reserve would propel Bitcoin’s price to new heights. Armstrong, who has been an advocate for Bitcoin’s potential as a global monetary standard, noted that President Trump seemed enthusiastic about the initiative. He emphasized that if the U.S. leads the way, other G20 nations might soon follow suit, further boosting Bitcoin’s demand and value.
Armstrong went even further in a separate interview with CNBC, where he predicted Bitcoin could eventually be worth millions per coin if Bitcoin reserves were adopted by several nations. The growing institutional adoption of cryptocurrency would add fuel to this price surge, according to Armstrong’s analysis.
But Armstrong’s vision goes beyond just price speculation. In a blog post dated January 17, he argued that Bitcoin could become as vital to global economies as gold, with its ownership potentially shifting power between nation-states. He suggested that countries should establish Bitcoin reserves as a matter of national security, given its potential to hedge against inflation and become a store of value.
Despite Armstrong’s enthusiasm, crypto prediction market Polymarket currently places the odds of the U.S. implementing a Bitcoin reserve in the first 100 days of Trump’s term at just 36%. While the future of a U.S. Bitcoin reserve remains uncertain, Armstrong’s remarks have certainly added fuel to the ongoing debate about Bitcoin’s role in the global economy.
Also Read: Bitcoin Rises Above $106K Amid Market Optimism, Awaiting Trump’s Crypto Directive
As the world watches, Bitcoin’s trajectory could very well be shaped by the decisions of nation-states in the years to come.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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