Coinbase CEO: If the U.S. fails to resolve its $37 trillion debt, Bitcoin could replace the U.S. dollar

PANews
PANews
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PANews reported on June 4 that, according to CCN, the size of the U.S. Treasury exceeded the $37 trillion mark, causing concerns about the U.S. dollar's status as a global reserve currency. Coinbase CEO Brian Armstrong recently warned that if the United States is unable to effectively control debt growth, Bitcoin could replace the dollar as the new reserve currency. This view is supported by the Winklevoss brothers, co-founders of the Gemini exchange, who called for a "buy bitcoin" by citing a chart of soaring US debt. "I love Bitcoin, but a strong America is just as important to the world," Armstrong stressed, calling for fiscal reform. The "X date" of the debt ceiling is expected to arrive in late August to mid-October, and if the ceiling is not raised in time, the federal government could face spending cuts and payment delays.

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