#Coinbase CEO: Bitcoin is inflation-resistant#
Hot Topic Overview
Overview
Coinbase CEO Brian Armstrong made a number of remarks about Bitcoin and cryptocurrency at the World Economic Forum in Davos. He argued that Bitcoin can be a hedge against inflation and predicted that its price will reach millions of dollars. He stated that President Trump was excited about building a strategic Bitcoin reserve and believed that this would encourage more countries to follow suit. He also discussed stablecoin regulation, predicting that the United States will require stablecoin issuers to be fully backed by U.S. Treasury bonds and subject to regular audits. He stated that Coinbase would delist USDT if Tether could not comply with the new regulations, but would provide a path for Tether holders to convert to other cryptocurrencies.
Ace Hot Topic Analysis
Analysis
Coinbase CEO Brian Armstrong said at the World Economic Forum in Davos that Bitcoin can be a hedge against inflation and believes its price will reach millions of dollars in the long term. He pointed out that Bitcoin has made significant progress and expects more institutional investors to enter the market through ETFs and other means. He believes that US President Trump is excited about a Bitcoin strategic reserve and expects the US to provide regulatory clarity for cryptocurrencies, which would drive Bitcoin prices higher. Armstrong also said that if the US holds Bitcoin, G20 countries will follow suit. He has spoken with finance ministers in many countries and understands that their interest in holding Bitcoin is increasing. In addition, Armstrong said Bitcoin can be a good counterbalance to deficit spending and inflation, as people would turn to Bitcoin as a safe haven once things get out of control. He believes that Coinbase would delist stablecoin USDT from its US cryptocurrency trading platform if new US legislation requires it, and hopes to provide a way for Tether holders to convert to other cryptocurrencies. He expects future US regulations to require stablecoin issuers to hold 100% reserves in US Treasuries and undergo regular audits.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin can be used as a hedge against deficit spending and inflation, as people turn to it for safety when the economy is out of control.
Bitcoin's price will reach millions of dollars in the long term, as institutional investors enter the market through ETFs and other means, and the US holding Bitcoin as strategic reserves will be a bullish factor.
US President Trump is excited about establishing a strategic Bitcoin reserve and could become the first Bitcoin president.
Future US stablecoin regulations may require issuers to be fully backed by US Treasury bonds and subject to regular audits, which would have an impact on stablecoin issuers such as Tether.