Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Brian Armstrong cautions that unchecked US debt may pave the way for Bitcoin to become the global reserve currency
Coinbase CEO Brian Armstrong has issued a warning that Bitcoin could supplant the US dollar as the world's reserve currency if the United States fails to address its escalating national debt, which has reached $37 trillion as of June 2025.
Armstrong's remarks were made during the State of Crypto Summit in New York City and echoed in a post on the social media platform X, where he stated, "If the electorate doesn’t hold Congress accountable to reducing the deficit, and start paying down the debt, Bitcoin is going to take over as reserve currency."
Armstrong emphasized the importance of maintaining US economic strength, noting, "I love Bitcoin, but a strong America is also super important for the world.
We need to get our finances under control."
In response to the growing debt, some US states, including New Hampshire and Arizona, have begun incorporating Bitcoin into their financial strategies as a hedge against inflation.
At the federal level, President Donald Trump signed an executive order in March 2025 to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The reserve is to be funded by bitcoin assets seized through criminal or civil proceedings, with no current plans to purchase additional assets.
The United States is currently the largest known state holder of bitcoin, with an estimated 207,189 BTC as of March 2025.
Armstrong's comments reflect a broader trend of increasing institutional interest in Bitcoin as a potential alternative to traditional reserve assets amid concerns over fiscal stability.
Armstrong's remarks were made during the State of Crypto Summit in New York City and echoed in a post on the social media platform X, where he stated, "If the electorate doesn’t hold Congress accountable to reducing the deficit, and start paying down the debt, Bitcoin is going to take over as reserve currency."
Armstrong emphasized the importance of maintaining US economic strength, noting, "I love Bitcoin, but a strong America is also super important for the world.
We need to get our finances under control."
In response to the growing debt, some US states, including New Hampshire and Arizona, have begun incorporating Bitcoin into their financial strategies as a hedge against inflation.
At the federal level, President Donald Trump signed an executive order in March 2025 to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The reserve is to be funded by bitcoin assets seized through criminal or civil proceedings, with no current plans to purchase additional assets.
The United States is currently the largest known state holder of bitcoin, with an estimated 207,189 BTC as of March 2025.
Armstrong's comments reflect a broader trend of increasing institutional interest in Bitcoin as a potential alternative to traditional reserve assets amid concerns over fiscal stability.
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