Coinbase CEO Brian Armstrong Endorses the Creation of a US Strategic Bitcoin Reserve

In a latest development, Coinbase, the United States’ largest crypto exchange, is endorsing the creation of a US strategic Bitcoin reserve.

Coinbase, the largest crypto exchange in the United States, is now backing the creation of a US strategic Bitcoin reserve.

This endorsement comes ahead of Donald Trump's second inauguration and Armstrong's attendance at the World Economic Forum. It also marks the first time Coinbase has directly addressed the concept of a strategic bitcoin reserve.

In a blog post on Friday, Coinbase CEO Armstrong called on world leaders and policymakers to acknowledge the beneficial impact of cryptocurrency, which he claims can accelerate economic freedom.

"Economic growth comes from free market capitalism, deregulation, small government, and technological innovation," he wrote. "If the rest of the G20 wants to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets."

Armstrong's Four Actions

Armstrong outlines four actions for world leaders to take in the spirit of tech-optimism, beginning with passing legislation to retain crypto firms in their home countries.

The first would be to enact pro-crypto regulation, which would foster crypto innovation and development. Second, a strategic Bitcoin reserve should be established. "The next global arms race will be in the digital economy, not space," he wrote in the post. Third, Armstrong advocates for the creation of special economic zones for the digital asset economy. Finally, Armstrong expressed support for the new Department of Government Efficiency (DOGE) headed by Elon Musk, highlighting the need for more efficient governments.

Strategic Bitcoin Reserve

Coinbase, under Armstrong's leadership, has been a staunch advocate for pro-crypto policies and regulation, particularly against the SEC. Coinbase recently introduced Bitcoin loans for US customers.

The launch enables users in the United States to obtain BTC loans directly from the cryptocurrency exchange. Several states are exploring crypto options as the US focuses more on Bitcoin's future, including proposing strategic Bitcoin reserves.