Coinbase CEO Brian Armstrong Thinks US Strategic Bitcoin Reserve Is Key To Its Future Value

Despite recent fluctuations, Bitcoin (BTC), the leading cryptocurrency, remains a focal point of discussion among investors and industry leaders.

Bitcoin (BTC) price action has been a hot topic of discussion lately, especially after its record high of $109,000. Now, key figures in the industry are sharing their thoughts on BTC's future potential.

Coinbase CEO Brian Armstrong shared his insights on Bitcoin’s trajectory in an interview at the World Economic Forum in Davos.

Highlights

Institutions are showing increasing interest in Bitcoin, especially through ETFs and other financial instruments.

If the US were to establish a national Strategic Bitcoin reserve, it could boost Bitcoin’s value.

G20 nations might follow the US in setting up their own Bitcoin reserves, potentially pushing BTC into a price range of “multiple millions.”

Armstrong discussed the possibility of Bitcoin becoming a standard reserve asset for governments.

“The US has reserves in many assets—gold, oil, and various rare minerals. I believe the world is moving toward a Bitcoin standard for money,” he said.

Armstrong also mentioned his previous meetings with Trump, where they talked about the benefits of Bitcoin for the US economy and its potential role as a financial reserve.

“I think he is excited about it. I mean, he really wants to be the first Bitcoin president,” Armstrong added.

Meanwhile, the Trump family has ventured into the crypto space with their own assets.

Just days before his recent inauguration, Trump launched his “official Trump coin” (TRUMP). The coin, developed by CIC Digital—an affiliate of the Trump Organization—has shown impressive performance.

Within 48 hours of its debut, the Trump coin achieved a market cap of $73 billion, surpassing Dogecoin to become the largest memecoin. However, its value has since dropped, now sitting at around $7.3 billion.

At the same time, Melania Trump’s token, MELANIA, was also launched, currently holding a market cap of $732 million.

The rapid ascent of these memecoins has sparked discussion about the ethical implications of such ventures, given the potential for the Trump family to derive financial benefit from these assets.

“Launch of a memecoin by the biggest political figure in the world is a massive paradigm shift in how the US and the rest of the world approach crypto,” said Gautam Chhugani, an analyst at Bernstein Digital Assets.

“It signals a new regulatory era, where governments see crypto as a technology to reach out to the masses directly,” Chhugani added.

Bitcoin is currently trading at $102,380, retracing over 3% in the 24-hour time frame.