Amid rising global debt and inflation, Coinbase CEO Brian Armstrong says cryptocurrencies are crucial for financial freedom. He believes Bitcoin could become the world’s next reserve currency.
Economic instability worldwide has pushed cryptocurrencies back into the spotlight as a possible solution. With inflation increasing, debt levels rising, and financial freedom shrinking, many see digital assets as a way to build economic resilience.
Armstrong shared his views on social media platform X. He warned that “debt is growing exponentially,” “inflation is crippling entire nations,” and “economic freedom is declining.” According to him, cryptocurrencies offer a way to address these challenges and help restore economic freedom globally.
Armstrong explained that economic freedom means people should control their own money without relying on intermediaries, who often charge high fees and cause delays. Cryptocurrencies allow anyone with a smartphone to make quick, low-cost, worldwide transactions, increasing individual control over finances.
He also highlighted growing U.S. federal debt as part of a wider problem affecting many democratic countries. Armstrong said people are losing trust in their money due to excessive government spending. This, he noted, helps explain why Bitcoin prices have hit record highs. “People see Bitcoin as a refuge from inflation and deficit spending,” he said, adding that Bitcoin could become a check on government financial practices and might even become the next global reserve currency.
Armstrong also mentioned the rising use of stablecoins for everyday transactions. The market value of stablecoins has grown by 50% over the past year, independent of overall cryptocurrency trading volume.
He concluded by saying the current financial system faces serious problems that are worsening, and cryptocurrencies are gradually disrupting the traditional financial services industry.
