Brian Armstrong, the CEO of Coinbase, a leading US cryptocurrency exchange, has urged global leaders to consider establishing Bitcoin reserves as part of their economic strategies.
In a blog post on January 17 focusing on “economic freedom,” Armstrong highlighted the transformative potential of cryptocurrencies in shaping the future of capitalism. He outlined recommendations for integrating digital assets into national economies by 2025.
Armstrong’s proposals included implementing crypto-friendly regulations, enhancing government efficiency through blockchain technology, creating special economic zones for digital innovation, and building Bitcoin reserves to hedge against inflation.
“The future global competition will revolve around digital economies rather than space exploration,” Armstrong stated. “Bitcoin, much like gold, could become a cornerstone of the global financial system and play a pivotal role in national security, where Bitcoin reserves may influence the balance of power among nations.”
Coinbase’s Growing Political Influence
During the 2024 election cycle, Coinbase strengthened its political connections, contributing over $45 million to the Fairshake PAC and donating $1 million to President-elect Donald Trump’s inauguration fund. Armstrong also reportedly met with Trump in November to discuss strategic appointments, signaling the exchange’s growing influence on U.S. crypto policy.
Kara Calvert, Coinbase’s Vice President of U.S. Policy, expressed the company’s readiness to collaborate with the incoming administration but refrained from confirming any specific plans for a national Bitcoin reserve.
President-elect Trump has hinted at prioritizing cryptocurrency in his 2025 agenda, which could include establishing a national Bitcoin reserve—one of his campaign promises aimed at bolstering the crypto industry.
Legal Challenges Persist
As the Trump administration prepares to take office on January 20, the status of Coinbase’s ongoing legal battles remains uncertain. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase in mid-2023, accusing the company of operating as an unregistered securities exchange, broker, and clearing agency. However, this case is currently on hold, pending a higher court’s decision on an appeal.
In addition to defending itself against the SEC, Coinbase has actively pursued legal actions against government agencies. In 2024, the exchange filed Freedom of Information Act lawsuits against both the SEC and the Federal Deposit Insurance Corporation (FDIC), alleging efforts to limit crypto firms’ access to banking services.
Furthermore, a federal appellate court is expected to rule on Coinbase’s 2022 petition urging the SEC to establish clear guidelines for determining which digital assets qualify as securities.
As the crypto industry evolves, Armstrong’s vision of a world where Bitcoin becomes a vital economic and geopolitical tool is gaining traction among policymakers and industry leaders alike.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
