Coinbase CEO: "Bitcoin could become the world's reserve currency"

Coinbase assessed that Bitcoin (BTC) could serve as an alternative asset in response to government fiscal instability.

According to Benzinga Crypto, a cryptocurrency-focused media outlet, Brian Armstrong, CEO of Coinbase, attended the 'State of Crypto' summit held the previous day and stated, "Bitcoin could emerge as a new global reserve currency," adding, "As unlimited government spending and increasing economic uncertainty persist, people will ultimately turn to Bitcoin as a safe haven."

He remarked, "Bitcoin can act as a tool to keep government spending in check, and when control is lost, it functions as an asset refuge," further commenting, "Ultimately, there is a possibility that Bitcoin becomes the world's reserve currency."

He also added, "If stablecoins serve as a medium of exchange, Bitcoin's role as a store of value is being strengthened."

The media outlet analyzed that "the view of Bitcoin as a reserve asset has been steadily spreading in recent years," and noted, "It is especially attracting attention in countries facing inflation, sanctions, or instability in the banking system."