Bitcoin Will Surpass Gold as Governments Adopt It, Says Coinbase CEO

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.

READ MORE:

Ethereum Price Prediction: Bullish Outlook Could Push ETH to $14,000

“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.

Kosta Gushterov