How Bitcoin Can Save the United States: Coinbase’s CEO Weighs In

America's national debt has risen to unprecedented levels. Amid this growth, Coinbase CEO Brian Armstrong proposed Bitcoin as a potential lifeboat for the country's financial stability.

This idea emerged in response to an eye-opening post by analyst Robert Sterling. A color-coded chart shows the rapid increase in the national debt in a visually stunning way.

The US adds $1 trillion in debt every 3-4 months.

Sterling's analysis paints a grim picture of a country on the brink of a financial cliff. “This is the scariest chart I've ever seen,” he said, showing the steady climb of the national debt. Notably, it once took six years to add a trillion dollars to this debt; Now this number is collected every 90-120 days.

Sterling's critique of bipartisanship indeed highlights the role of both major political parties in this alarming escalation.

“The debt explosion is the only binary event in my life. For us conservatives, we can't just blame it on Biden and Obama. You Democrats can't just blame this on Trump. It's both parties, every president and every Congress,” Sterling said.

Sterling also attributed the massive increase in debt to policies initiated by George W. Bush, which exacerbated the Great Recession and unbridled spending by subsequent administrations. Indeed, this non-partisan issue has caused the national debt to spiral out of control.

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Responding to Sterling's shocking revelations, Armstrong supported Bitcoin advocates to express concern and possibly lead the United States to long-term financial salvation.

You can buy Bitcoin though as a way to vote with your dollar, send a clear message, and save America in the long run. Getting back to the gold standard,” Armstrong said.

Armstrong's view reflects the growing discourse around the sustainability of traditional monetary policies and the search for viable alternatives. Bitcoin's upcoming halving event, which slows the rate at which new coins are created, underscores its appeal as a declining asset amid widespread fiscal expansion in the US.

As political figures like former President Donald Trump warn of an untold debt “ticking time bomb,” the discussion surrounding Bitcoin takes on a new urgency. Incredibly, in October 2023, US debt increased by $275 billion in one day, bringing the total to a record $33.44 trillion.

This rapid accumulation of debt dwarfs the market capitalization of most crypto assets, signaling a looming crisis.

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Elon Musk highlights the perilous nature of the US dollar in a humorous critique of its inflationary policies and centralized controls. With a fixed supply cap and a decentralized network, Bitcoin is highly resistant to the inflationary pressures of the US dollar.