Brian Armstrong, the CEO of Coinbase, believes that the leading cryptocurrency bitcoin is more trustworthy than the world reserve currency US Dollar. He said that the increasing economic stimulus and quantitative easing caused by the ongoing pandemic is raising concerns about the world’s future. Brian Armstrong noted that if the government continues to print money, then there will be a lot of inflation in the future. Several others from the crypto industry have made similar statements.
“There can only be 21 million bitcoin in existence.”
In a new interview on the Invest Like the Best podcast, Coinbase CEO expressed concerns about the future of the world’s reserve currency are mounting, especially in light of increasing economic stimulus and quantitative easing amid the COVID-induced financial crisis. He also said that there’s only ever going to be 21 million Bitcoin, and nobody can really go and change that, and it stood the test of time. The US dollar, they have a feeling that they do not have the same level of trust, he added. While talking about altcoins, Armstrong said that he initially thought altcoins might be a fad. However, he revealed that he has been witnessing the rising demand for altcoins in recent times.
Cameron Winklevoss called US dollar funny money.
As reported earlier, the co-founder of Gemini exchange Cameron Winklevoss said that the US dollar had become such funny money that politicians are now “trillions of dollars apart” in stimulus negotiations. Coronavirus stimulus failures show just how irrelevant the dollar supply has become, and this “a wakeup call” for those not looking at Bitcoin, Gemini co-founder Cameron Winklevoss said. According to the Gemini co-founder, politicians could plan for the same goal with wildly varying sums of money said more about the dollar’s value than their differences.