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- Speaking at a World Economic Forum event, Coinbase CEO Brian Armstrong argued that Bitcoin is “a better form of money than gold.”
- In a separate interview, he noted that the Trump administration ushers in a new era for crypto after the sector was on the receiving end of ceaseless attacks by the Biden government.
Bitcoin is better money than gold, says Brian Armstrong, the founder and CEO of America’s largest crypto exchange, Coinbase. Speaking at a recent World Economic Forum in the UK, Armstrong supported the American government’s pivot towards a Bitcoin standard, which Trump pledged to champion once he took over.
“It’s clear at this point that Bitcoin is a better form of money than gold,” he told the audience at the event, which was co-organized by Business Insider.
It’s provably scarce, just like gold, but it’s more portable and divisible. It has higher utility and was the best-performing asset of the last ten years. For store of value, I think it will be important for governments to hold it over time.
CEO of America’s largest bitcoin exchange, @Brian_Armstrong tells the World Economic Forum audience, “It’s clear at this point, bitcoin is a better form of money than gold…For a store-of-value, it’s important governments hold bitcoin over time” pic.twitter.com/qhsJnW63Ry
— Documenting ₿itcoin 📄 (@DocumentingBTC) January 21, 2025
Armstrong added that he believes over time, governments will hold more of their reserves in Bitcoin than in gold. According to the World Gold Council, governments held just over 35,000 tonnes of gold last year, which equates to $3.16 trillion.
The US is leading in the push to have Bitcoin strategic reserves at the federal and state levels, as we have reported. This ultra-bullish BTC stance is rubbing off on dozens of other countries, with legislators in Chile, Poland, Switzerland, Hong Kong, Germany and more advocating for their governments to adopt similar approaches.
Now that Trump has taken over, crypto enthusiasts expect him to fulfill his promise. Sen. Cynthia Lummis is Trump’s field marshall on the BTC front, and she’s pushing the BITCOIN ACT to establish the reserve.
Bitcoin trades at $105,000, gaining 2.3% in the past day despite a 31% dip in trading volume, which now stands at $73 billion for the past 24 hours.
Armstrong: A New Era for Bitcoin Under Trump
Beyond Bitcoin, Armstrong noted that the industry expects four years of aggressive growth under Trump, who has previously branded himself the crypto president.
It’s the dawn of a new day. The last four years in the US…it was a very hostile environment. The lack of clarity got weaponized and some people in the government tried to curtail the industry unlawfully.
While he shied away from calling the specific people who fought crypto out, fellow panelist Anthony Scaramucci had no such qualms. He identified Gary Gensler and Sen. Elizabeth Warren as the key culprits, adding that the two single-handedly led the Democrats to lose the presidency, the Senate and the House.
Denelle Dixon, who heads the Stellar Development Foundation, echoed Armstrong’s views. stating:
Now, because we are in this era where I think regulations are going to be more favorable in the US, we’ll get an opportunity to really showcase the real world [we’ve been doing] and work with traditional financial companies.
In a separate interview with CNBC’s Squawk Box, he doubled down on the ‘new era’ rhetoric, adding that he hopes the first executive order Trump signs for crypto is to direct government agencies to “collaborate and work towards getting clear rules passed.”
