USA's monetary policy is boosting the case for Bitcoin, Coinbase CEO

Coinbase CEO Brian Armstrong believes cryptocurrencies are the next phase in the evolution of the global monetary system.
He said that the US government’s policies in fighting the current crisis would boost Bitcoin's case.

Brian Armstrong, the CEO of Coinbase, said that cryptocurrencies are the next phase in the evolution of the global monetary system. However, he warned new traders that it’s not a way to get rich quickly. Armstrong took to Twitter to say that many people are uncomfortable with the US government’s policies in fighting the economic fallout caused by the Covid-19 pandemic. According to him, this scenario will boost the case for Bitcoin.

The Coinbase head said people don’t believe printing money is a viable solution to an economic crisis. They intuitively understand that if a nation wants growth and wealth creation, then something of value needs to be produced. Despite Armstrong’s belief that everyone should buy Bitcoin, he said that cryptocurrency investments involve risks and warned traders to proceed with caution.

The cryptoeconomy is just getting started. Freedom and opportunity can be found on its frontier.
— Brian Armstrong (@brian_armstrong) July 16, 2020

Pointing to Bitcoin’s hard-capped supply of 21 million coins, Armstrong said people would seek an alternative monetary system that they can trust. He added that the best way to start taking part in the “cryptoeconomy” is to earn or buy some BTC.

Start there - don't be rash, or try to get rich quick, there is still volatility. From there you can start a crypto startup, earn a living in crypto, begin to pay for food/rent in crypto, do remittance in crypto, etc to begin to fully participate.
— Brian Armstrong (@brian_armstrong) July 16, 2020

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.