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Coinbase CEO Sees Bitcoin as Positive for US Fiscal Stability
Brian Armstrong, CEO of Coinbase, has presented a contrarian view that Bitcoin (BTC) may actually be a net positive for the US dollar, challenging the older narrative that the two were in opposition. In the 2010s, many believed Bitcoin could only rise if the US dollar faltered. Armstrong, however, argues that BTC creates healthy competition, acting as a check against excessive inflation and deficit spending.
Bitcoin as a Check on Inflation
Armstrong stated, “Bitcoin provides a check and balance on the dollar…if there is too much deficit spending or inflation in the US, people will flee to Bitcoin in times of uncertainty.” He emphasized that fiscal incentives are currently misaligned to balance the budget, warning that if inflation outpaces economic growth, the US could eventually lose its reserve currency status, a scenario with potentially severe consequences.
The US Deficit Problem
The 2025 fiscal landscape has given crypto advocates ample talking points. The national debt surpassed $1 trillion, exceeding the entire National Defense budget of $917 billion. Armstrong has promoted technological modernization of the government’s balance sheet as a potential way to tame the deficit and has voiced support for initiatives like the Department of Government Efficiency (D.O.G.E.), initially led by Elon Musk.
Supercharging the Dollar with Bitcoin
Political figures like Senator Cynthia Lummis (R-WY), who recently announced her retirement, also see BTC as a potential tool to strengthen the US dollar, advocating for a strategic Bitcoin reserve to back the greenback with a hard currency. Similarly, MicroStrategy Executive Chairman Michael Saylor supports the idea that digital assets could bolster the US national balance sheet.
A Survival Strategy for Crypto
The shift in narrative—positioning Bitcoin as a supporter rather than a challenger of the system—is largely seen as a strategic survival tactic. By aligning BTC with institutional interests and gaining political favor, the cryptocurrency industry has rebranded Bitcoin as an asset that strengthens the existing financial system, rather than seeking to dismantle it.
This evolving view signals that Bitcoin is no longer just a digital rebellion but may play a constructive role in national financial stability, at least according to leading voices in the crypto space.
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