Coinbase CEO: Cryptocurrency and fiat will coexist in the long term

ChainCatcher news, Coinbase CEO Brian Armstrong stated that one idea he has been contemplating is that Bitcoin might be the key to the continuation of Western civilization. Whichever country holds the reserve currency, its natural tendency is to expand the money supply and increase deficit spending until it loses that advantage. Many have discussed this trend in the U.S., including Dalio's arguments in "The Changing World Order."

The renminbi and euro have their own issues and are currently not viable alternative currencies, so the assumption is that the U.S. can continue to expand, but what many people do not consider is that people now have cryptocurrency as an alternative currency. They may start to transfer fiat currency into cryptocurrency to hedge against inflation.

Contrary to some people's assumptions, I do not believe this will pose a threat to the dollar and the U.S.; I think it will serve as a natural check and complement to the dollar, being the best defender of America's long-term interests (and the broader Western civilization). Shifting from the dollar to cryptocurrency is better than shifting to the fiat currencies of other countries or regions. I also believe that fiat and cryptocurrency will coexist in the long term. They are more complementary than substitutive. Dollar-backed stablecoins (like USDC or other stablecoins) will play an important role in unifying these two worlds.