Bitcoin is more trustworthy than USD – Coinbase CEO

Coinbase CEO Brian Armstrong said that Bitcoin is more trustworthy than the USD.
He said that the US govt printing money will result in high inflation.
Armstrong highlighted the growing demand for altcoins in recent times.

Rajarshi Mitra Independent Analyst

Brian Armstrong, the CEO of Coinbase, has recently said that Bitcoin is more trustworthy than the US dollar. He said that the increasing economic stimulus and quantitative easing caused by the COVID-19 pandemic is raising concerns about the world’s future. Armstrong noted that if the government continues to print money, then there will be a lot of inflation in the future. Comparing the USD to Bitcoin, he said:

There’s only ever going to be 21 million Bitcoin. Nobody can really go and change that, and that so far stood the test of time. The US dollar, they have a feeling that they do not have the same level of trust.

Armstrong noted that initially, he thought altcoins might be a fad. However, he has been witnessing the rising demand for altcoins in recent times. Currently, Coinbase supports around 30 digital assets for trading. The CEO said that the exchange will add more assets to keep up with the growing interest in cryptocurrencies. Coinbase is currently considering whether to add support for 19 more digital assets.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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