At the World Economic Forum in Davos, Coinbase CEO Brian Armstrong highlighted Bitcoin's growing significance, calling it a superior form of money compared to gold.
Speaking during a panel discussion, Armstrong argued that Bitcoin’s provable scarcity, portability, and divisibility make it a more practical and valuable asset. He predicted that governments will eventually allocate at least 1% of their reserves to Bitcoin, with the potential for those holdings to surpass gold reserves in the future.
“Bitcoin has demonstrated itself to be the best-performing asset over the past decade. As a store of value, it’s unmatched, and I believe governments will begin incorporating it into their reserves, starting small but growing significantly over time,” Armstrong remarked in a video shared on social media.
In an interview with CNBC’s Squawk Box, Armstrong described the current moment as a turning point for the crypto industry, emphasizing the impact of having a pro-crypto administration in Washington, D.C. Reflecting on the past few years, he noted the challenges the industry faced under the previous government, including regulatory uncertainty and enforcement actions that targeted even legitimate businesses.
“This feels like a fresh start for the industry. The energy among industry leaders is palpable, and there’s a collective optimism about moving forward with clear regulations. Over the past few years, it often felt like we were under attack, even as responsible actors trying to do things the right way. Now, with this new administration, the focus is on collaboration and clarity,” Armstrong said.
Armstrong’s comments reflect a broader sense of optimism within the crypto community as the industry seeks to push for clearer legislation, aiming to cement the United States as a leader in the digital asset space.
Institutional interest in Bitcoin is heating up again, with major asset managers making massive moves.
Tokyo-listed Metaplanet has kicked off its aggressive Bitcoin acquisition plan by securing 74.9 billion yen ($515 million) through new share issuance — the first step in its bid to own 1% of Bitcoin’s total supply.
Trump Media & Technology Group (TMTG), the company behind Truth Social, is ramping up its entry into the crypto investment world.
Investor enthusiasm for U.S.-listed spot Bitcoin ETFs has reached a fresh high, with over $2.2 billion pouring in over the past 11 trading days.