Giant Bitcoin and Altcoin Forecasts From Coinbase CEO!
Coinbase CEO Brian Armstrong said he believes Bitcoin (BTC), the largest cryptocurrency by market cap, is now more reliable than the US dollar. Also, Brian Armstrong believes that altcoins may soon become a trend.
Coinbase CEO: Bitcoin (BTC) is now more reliable than the US dollar!
In a recent interview, Coinbase CEO Brian Armstrong expresses his concerns about the future of world reserve money. In particular, Brian Armstrong argues that Bitcoin (BTC) is now more reliable than the US dollar due to the Covid-driven financial crisis. The Coinbase CEO adds:
THE SHORT-TERM EFFECT OF THIS HAS BEEN DEFLATIONARY … BUT IF THEY CONTINUE TO ENCOURAGE AND PRINT SO MUCH MONEY, THE LONG-TERM EFFECT MAY ACTUALLY BE THAT THERE IS MORE AND MORE INFLATION … THERE ARE MANY PEOPLE OUT THERE WHO ARE STARTING TO GET THIS UNEASY FEELING: ‘WHAT’S HAPPENING IN THE TREASURY AND THE FEDERAL RESERVE. AND DOES THAT REALLY MAKE SENSE? ‘ IT LOOKS TOO GOOD TO BE TRUE. YOU JUST HAVE TO PRINT ALL THIS MONEY AND THEN SOMEHOW EVERYTHING WILL BE FINE… I GUESS PEOPLE ARE LOOKING FOR AN ALTERNATIVE SYSTEM THEY CAN TRUST AND THERE IS NO ONE DOMINATING CRYPTOCURRENCIES… THERE WILL ONLY BE 21 MILLION BITCOINS. NO ONE REALLY CAN GO AND CHANGE THAT, AND THIS HAS SO FAR PASSED THE TEST OF TIME. PEOPLE FEEL THAT THEY NO LONGER HAVE THE SAME LEVEL OF CONFIDENCE IN THE US DOLLAR.
Brian Armstrong: altcoins may become a trend soon
Coinbase CEO Brian Armstrong also touches on the strong rising altcoins recently and says he thinks altcoins could be a trend. The Coinbase CEO adds:
MANY OF OUR CLIENTS COME TO US AND SAY, ‘HEY, WE WANT TO TRADE WITH OTHER ASSETS. I WAS HOPING IT WOULD DISAPPEAR FOR A WHILE… BUT IT TURNS OUT THAT IF WE DON’T PROVIDE CUSTOMERS WITH WHAT THEY WANT UP TO A CERTAIN POINT, WE COULD PROBABLY FAIL AS A COMPANY. THEY’LL JUST GO ELSEWHERE.
Coinbase currently supports around 30 cryptocurrencies for trading. Brian Armstrong said the exchange will list more altcoins to keep up with the growing interest of its customers in other cryptocurrencies. The giant exchange is currently considering whether to add support for 19 cryptocurrencies.