Coinbase CEO: The U.S. debt crisis may make BTC a global reserve currency

ChainCatcher news, according to Decrypt, Coinbase CEO Brian Armstrong warned that if the U.S. Congress fails to address the $37 trillion debt issue, Bitcoin could replace the dollar as the global reserve currency.

With the Trump-backed "Beautiful Bill" passing the House Republicans in May, financial pressure has intensified interest in Bitcoin. States like New Hampshire and Arizona have begun to stockpile Bitcoin to mitigate the risks of dollar depreciation. Six Nobel laureates in economics have warned that the bill could further exacerbate debt and inequality issues. Armstrong stated, "I love Bitcoin, but a strong America is also very important to the world. We need to manage our finances well."