In a latest development, Coinbase, the United States’ largest crypto exchange, is endorsing the creation of a US strategic Bitcoin reserve. Notably, the endorsement comes just before the second inauguration of Donald Trump and Armstrong’s trip to the World Economic Forum. It is also the first time Coinbase has specifically addressed the idea of a strategic bitcoin reserve.
In a Friday blog post, Coinbase CEO Armstrong urged world leaders and policymakers to recognize the positive impact of cryptocurrency, stating that it can accelerate economic freedom.
“Economic growth comes from free market capitalism, deregulation, small government, and technological innovation,” he noted. “If the rest of the G20 wishes to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets.”
Armstrong Outlines Four Actions
Notably, Armstrong urges world leaders to take four actions in the spirit of tech-optimism, starting with passing laws to keep crypto firms in their home countries.
The first would be passing pro-crypto regulation, which would encourage crypto innovation and growth. Secondly, launching a strategic Bitcoin reserve. “The next global arms race will be in the digital economy, not space,” he writes in the post. Thirdly, Armstrong promotes establishing special economic zones for the digital asset economy. Armstrong supported the new Department of Government Efficiency (DOGE), led by Elon Musk, emphasizing the need for more efficient governments.
Strategic Bitcoin Reserve
Coinbase, led by Armstrong, has been a strong advocate for pro-crypto policies and regulation, especially in opposition to the SEC. Recently, Coinbase launched Bitcoin loans for U.S. users.
The launch allows users in the United States to get BTC loans directly from the cryptocurrency exchange. As the U.S. focuses more on Bitcoin’s future, several states are exploring crypto options, including proposing strategic Bitcoin reserves.
