Coinbase CEO Brian Armstrong Affirms Cryptocurrency as the Future of Money
Coinbase CEO Brian Armstrong declared that cryptocurrency is not just a passing trend but represents the future of money, providing people with economic freedom and fair participation in the economy.
In a blog post titled “The future of money is here — and it’s crypto,” Armstrong highlighted the significant growth in the crypto industry, with a 90% increase in value and a 60% surge in volume during Q4. He noted that 425 million people globally own cryptocurrency, and 83% of G20 countries are working on or have implemented regulations for the industry. Armstrong emphasized the industry’s move toward compliance and away from unlawful behavior, asserting that cryptocurrency is reshaping the financial system, offering faster, more accessible, and autonomous money movement.
Armstrong pointed out the increasing demand for alternatives to traditional financial systems, with consumers seeking lower fees, higher speed, and access to new customers. He mentioned the SEC approval of spot bitcoin ETFs as a potential catalyst for new growth in the crypto market. The CEO also highlighted the global adoption of cryptocurrency, with over 100,000 merchants and payment rails accepting crypto, including major players like Paypal and Visa. Armstrong concluded that crypto is driving innovation and creating a more open, global financial system, offering economic freedom to people around the world, particularly in countries with lower economic freedom.
Clever Robot News Desk 24th December 2023
