Leading cryptocurrency exchange Coinbase has endorsed the creation of a national strategic Bitcoin reserve in the United States.
The publicly traded crypto firm officially commended the “economic freedom” approach in a Friday update. Brian Armstrong, Coinbase CEO, highlighted the benefits of Bitcoin as a reserve asset and urged other nations to adopt the financial tool.
Armstrong Endorses Bitcoin Reserve
Notably, this is the first time Coinbase has officially commented on the idea of Bitcoin as a strategic reserve asset. According to a blog post first shared exclusively with Axios, Armstrong discussed the potential of an economic transformation with the adoption of Bitcoin.
The staunch crypto advocate urged world leaders and policymakers to accelerate economic freedom by adopting cryptocurrencies. Per the post, Armstrong warned that an unwillingness to embrace the emerging sector would be detrimental.
Meanwhile, the endorsement followed a string of recommendations from other notable crypto participants. For context, asset manager VanEck endorsed the US Bitcoin stockpile ploy as the plan to create reserve gain momentum.
Coinbase Recommends Four Action Plans for Countries
Furthermore, the CEO highlighted four strategic approaches nations should take on digital assets. He advised zealousness in implementation, as it would give an edge in the impending “global arms war” for digital assets.
Armstrong urged countries to first establish legal structures and regulatory frameworks that would allow cryptocurrencies to thrive within their borders. Notably, this disposition is Donald Trump’s strategy, which is evident in his ploy to create a crypto advisory council.
Next, he recommended creating a strategic Bitcoin reserve. Notably, the concept has started gaining traction among different countries and regions, with Russia, Brazil, and the European Union discussing the innovation.
Meanwhile, the Coinbase CEO also advised establishing a special economic zone for the digital asset economy and, finally, improving government efficiency. Interestingly, the US has adopted the last recommendation by creating the Department of Government Efficiency (D.O.G.E.), headed by Elon Musk.
Bitcoin Reserve Almost Certain Under Trump
Moreover, with a few days left until his inauguration, emerging reports suggest Trump will almost certainly approve a national Bitcoin stockpile. For context, The Crypto Basic reported yesterday that the 47th US president views cryptocurrencies as a national priority and could issue an executive order to create a Bitcoin reserve on his first day in office.
Furthermore, statistics from America’s leading crypto-based prediction market, Polymarket, have shown that the probability of Trump establishing a Bitcoin reserve in 2025 has reached 65%. Meanwhile, Trump is also open to creating reserve assets for other digital assets native to the United States.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
