Coinbase, the largest crypto exchange in the United States, is endorsing the creation of a strategic Bitcoin reserve. This endorsement comes before the second inauguration of Donald Trump and Coinbase CEO Armstrong’s trip to the World Economic Forum. It is the first time Coinbase has specifically addressed the idea of a strategic Bitcoin reserve.
In a blog post, Coinbase CEO Armstrong urged world leaders and policymakers to recognize the positive impact of cryptocurrency on accelerating economic freedom. He stated that economic growth comes from free market capitalism, deregulation, small government, and technological innovation. Armstrong encouraged the rest of the G20 to embrace economic freedom and free markets to participate in economic prosperity.
Armstrong outlined four actions for world leaders to take in the spirit of tech-optimism. The first action is to pass laws to keep crypto firms in their home countries. The second action is to pass pro-crypto regulation to encourage crypto innovation and growth. The third action is to launch a strategic Bitcoin reserve, as Armstrong believes the next global arms race will be in the digital economy. Lastly, Armstrong promotes establishing special economic zones for the digital asset economy and supports the need for more efficient governments.
Coinbase has been a strong advocate for pro-crypto policies and regulation, particularly in opposition to the SEC. Recently, Coinbase launched Bitcoin loans for U.S. users, allowing them to get BTC loans directly from the exchange. As the U.S. focuses more on Bitcoin’s future, several states are exploring crypto options, including proposing strategic Bitcoin reserves.
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