Coinbase CEO Brian Armstrong believes the crypto industry is entering a golden age, fueled by recent political wins and economic uncertainty.
A New Era for Crypto?
In a recent CNBC interview, Armstrong highlighted the impact of the recent elections. He stated that the newly elected, pro-crypto legislators will create a more favorable environment for the crypto industry in the US. He’s optimistic this will lead to clearer regulations and a resurgence of growth. He believes this is “the dawn of a new crypto era.”
Bitcoin’s Continued Rise
Armstrong remains bullish on Bitcoin (BTC), which recently soared past $90,000. He sees significant potential for further growth, even with the emergence of other cryptocurrencies. He emphasized Bitcoin’s enduring importance: “I think Bitcoin will be the most important crypto asset for a long time.”
Why the Bitcoin Boom?
Armstrong linked the increased demand for Bitcoin to the US’s current economic challenges. He argues that Bitcoin acts as a safeguard against irresponsible government spending and inflation, offering an alternative to a potentially devaluing dollar. He believes this is a major reason why people are investing in Bitcoin now, viewing it as a way to protect their financial future. “There’s a massive issue in the United States with the deficit, with inflation…and that’s a big reason why people are buying Bitcoin now,” he said.
