The Rise of Economic Freedom and Bitcoin's Role in the Global Economy

In a blog, the CEO of Coinbase, Brian Armstrong, called on global leaders to make Bitcoin a part of their strategic reserves.

Coinbase CEO Brian Armstrong has called on world leaders via a blog post to include Bitcoin in their strategic reserves. He further went on to stress the need to embrace economic freedom in order to achieve prosperity.

Armstrong sees crypto as a powerful technology that allows people around the world to gain financial freedom without government interference. He said that if countries like the U.S., Canada, and Argentina were pro-free markets, then Bitcoin would surely play a role in shaping the future of global economies.

The Rise Of Economic Freedom

Over the last two decades, there has been a decline in economic freedom—a trend that is now becoming critically concerning. According to Armstrong, the average score is now at its lowest since 2001, when the world used to see gains in economic freedom.

The implications are dire, with most nations seeing a worsening in living standards and people being pessimistic about the outlook for future prosperity. One hindrance to progress for Armstrong has been the rise in socialist policies, when the proven method to lift people out of poverty is actually free-market capitalism.

He urges nations to follow the path of those opening up to economic freedom. Apparently, it is free markets, deregulation, and innovative technology that can shake off economic malaise.

Bitcoin’s Role In The Global Economy

He said that Armstrong stressed the importance of Bitcoin and crypto as a way to restore vitality to the global economy. He is keen to finally see countries use Bitcoin strategic reserves to bolster their economies, beat inflation, and position themselves for the digital economy. According to Armstrong, crypto adoption is growing at a rapid pace and it is more mainstream than people think, with more than 7% of the global population having entered cryptocurrency. He calls for further support in the direction of crypto-friendly policy support and asked policy makers to consider forward-thinking regulation that promotes further innovation.

To conclude, embracing economic freedom is where the future of global economic prosperity lies, said Armstrong. Clear regulations, support for Bitcoin strategic reserves, and fostering innovation in Special Economic Zones: here lie some of the clear paths whereby world leaders can create the right environment in which prosperity might just bloom.