#cryptonews
Brian Armstrong, CEO of Coinbase, has publicly endorsed a proposal for global leaders to establish Bitcoin strategic reserves.
In a Jan. 17 blog post discussing “economic freedom,” Armstrong highlighted cryptocurrencies as “the next chapter of capitalism” and outlined steps for governments to embrace digital assets in 2025.
“The next global arms race will be in the digital economy, not space,” Armstrong stated. Coinbase has maintained close ties with U.S. lawmakers, contributing over $45 million to the Fairshake political action committee during the 2024 election cycle.
Armstrong argued that Bitcoin could play a foundational role in the global economy, likening it to gold, and suggested it might become pivotal to national security.
In June 2023, the SEC filed a lawsuit against Coinbase, alleging it operated as an unregistered securities exchange, broker, and clearing agency.
However, Trump has hinted at making cryptocurrency a national priority, including proposals for a Bitcoin stockpile, fulfilling a campaign promise to the crypto industry.
Kara Calvert, Coinbase’s vice president of U.S. policy, expressed the company’s willingness to collaborate with the incoming administration but did not comment on plans for a national Bitcoin reserve.
Likewise, on 12 December 2024, Texas Representative Giovanni Capriglione introduced the Texas Strategic Bitcoin Reserve Act, which proposes that the state comptroller hold Bitcoin as a reserve asset for at least five years.
New Hampshire and North Dakota have introduced legislation to establish strategic Bitcoin reserves, marking a growing trend among U.S. states to diversify their treasuries with cryptocurrency.