Speaking from the World Economic Forum in Davos, Coinbase CEO Brian Armstrong declared that the "Bitcoin Standard" is no longer a fringe theory.
Speaking from the World Economic Forum in Davos, Coinbase CEO Brian Armstrong declared that the "Bitcoin Standard" is no longer a fringe theory.He has noted that people tend to think that people tend to think that the current system, where central banks do not have links to any hard commodity underneath, is"sacrosanct.
" However, it was created relatively recently when former US President Richard Nixon went off the gold standard in 1971. Armstrong believes that fiat currencies will continue to exist"for a long time," but a new monetary system is already emerging. Morning Crypto Report: Shiba Inu Price Suggests Bullish U-Turn in February, XRP Insider Signal? Ripple Boss Flirts With Community, Bitcoin Rockets 940% in Brutal $359 Million Liquidation Squeeze"We are also seeing the birth of a new monetary system that I would call the 'Bitcoin standard' instead of the gold standard," he said while speaking during a panel at the World Economic Forum that is currently taking place in Davos, Switzerland. When it comes to the crypto space, this marks a return to sound money, which is something that is inflation-resistant. adds."There is a real segment of the population that is looking for a new system based on hard money," Armstrong adds.During the panel discussion, Armstrong stated that crypto is actually good for fiat currencies. "I think that crypto is very good for fiat currencies. It's very good. Bitcoin is as good as a check and balance on deficit spending," he said.
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