Coinbase Endorses Strategic Bitcoin Reserve
The latest developments at Coinbase, the largest cryptocurrency exchange in the United States, are Agree Establishing a U.S. Strategic Bitcoin Reserve. Notably, this endorsement comes before Donald Trump’s second inauguration and Armstrong’s trip to the World Economic Forum. This is also the first time Coinbase has specifically discussed the idea of a Bitcoin strategic reserve.
In Friday’s Blog postalCoinbase CEO Armstrong urged world leaders and policymakers to recognize the positive impact of cryptocurrency, saying it can accelerate economic freedom.
“Economic growth comes from free market capitalism, deregulation, small government and technological innovation,” he noted. “If other members of the G20 wish to participate in economic prosperity, they would be wise to join the growing trend to embrace economic freedom and free markets.”
Armstrong outlined four actions
Notably, Armstrong urged world leaders to take four actions in the spirit of technological optimism, starting with passing laws to keep cryptocurrency companies in their countries.
The first is through pro-cryptocurrency regulation, which will encourage cryptocurrency innovation and growth. Secondly, start the Bitcoin strategic reserve. “The next global arms race will be in the digital economy, not space,” he wrote in the post. Third, Armstrong promoted the establishment of digital asset special economic zones. Armstrong supports the new Department of Government Effectiveness (DOGE) led by Elon Musk, emphasizing the need to make government more efficient.
Bitcoin strategic reserve
Coinbase, led by Armstrong, has been a strong advocate for pro-cryptocurrency policy and regulation, especially against the SEC. Recently, Coinbase launched Bitcoin loans for US users.
The launch allows US users to obtain Bitcoin loans directly from cryptocurrency exchanges. As the United States becomes more concerned about the future of Bitcoin, some states are exploring cryptocurrency options, including proposing strategic Bitcoin reserves.
