Brian Armstrong, CEO of Coinbase, is advocating for global leaders to establish Bitcoin strategic reserves, a step he believes is vital for economic freedom.
In a recent blog post, Armstrong highlighted the global shift towards economic liberty. He points to the U.S. election of Trump and the rise of leaders like Argentina’s Milei and El Salvador’s Bukele. He also referenced trends in Canada, the UK, and Germany, which indicate a growing embrace of free markets.
According to Armstrong, economic growth is rooted in capitalism, deregulation, and technological innovation, which are the free market principles. It offers the most opportunity to succeed.
He criticized socialism’s ascension and blamed it for deteriorating people’s lives. He brought up the new economic policies, which China again adopted under Xi Jinping, as an example of the stifling effect of such systems.
Armstrong concludes that the freedom that comes with the economy is the most important factor for people’s well-being. It makes people happier and can improve literacy, environmental care, and a country’s overall development.
Nonetheless, he stressed that freedom of economics is waning as the global average is now at its lowest point since 2001. One of the main reasons for that, he mentioned, is the failure of the US to provide a higher level of living standards. America is also the country where only 14% of the people are positive about the coming economies.
Bitcoin as a tool for advancing economic freedom
Moreover, Armstrong put an accent on the power of cryptocurrency to emancipate economic players. Armstrong is conceiving crypto as a technology that can bring about a global, decentralized economy so long as the people with the internet are given participation.
He observed that crypto use is rapidly increasing, especially in developing countries, where stablecoins are becoming popular for daily transactions. Armstrong recommended several measures that world leaders should take to progress in this direction.
Among them, legalizing, understanding, and giving freedom through Bitcoin and promoting the establishment of Special Economic Zones are the correspondents of what he urged.
Armstrong’s message is clear: governments should be on board the bandwagon of crypto, and the way to get there is to regulate crypto less and allow the market forces and technology to do their work.
