Coinbase maintains a strategic Bitcoin reserve
Coinbase, the largest crypto exchange in the United States, recently updated to support the creation of a US strategic bitcoin reserve. Notably, the endorsement came just before Donald Trump's second inauguration and Armstrong's trip to the World Economic Forum. It is also the first time that Coinbase has proposed a Strategic Bitcoin Reserve.
In a blog post on Friday, Coinbase CEO Armstrong urged world leaders and policymakers to recognize the positive impact of cryptocurrency, saying it will accelerate economic freedom.
“Economic growth comes from free market capitalism, deregulation, small government and technological innovation,” he said. “If the rest of the G20 wants to share in economic prosperity, it would be wise to join the growing trend of embracing economic freedom and free markets.”
Armstrong listed four actions.
Specifically, Armstrong urged world leaders to take four steps in a tech-savvy spirit, starting with enacting laws to keep crypto companies in their own countries.
The first is to pass pro-crypto regulation that encourages crypto innovation and growth. Second, the launch of strategic Bitcoin reserves. “The next global arms race is in the digital economy, not in space,” he wrote. Third, Armstrong encourages the establishment of special economic zones for the digital asset economy. Armstrong supported Elon Musk's New Government Efficiency Initiative (DOGE) and emphasized the need for more efficient governments.
Systematic Bitcoin Reserve
Coinbase, led by Armstrong, has been a strong advocate for pro-crypto policies and regulations, particularly against the SEC. Recently, Coinbase launched Bitcoin loans for US users.
The startup allows users in the United States to get BTC loans directly from cryptocurrency exchanges. As the US focuses more on the future of Bitcoin, several states are exploring crypto options, including the idea of strategic Bitcoin reserves.
