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Bitcoin provides good competition for the U.S. dollar as the country’s national debt sets a new record, Coinbase (NASDAQ:COIN) CEO Brian Armstrong has said.
“Bitcoin is a check and balance on inflation,” Armstrong said on March 20 on X, reacting to the U.S. debt reaching a new record of $39 trillion. “When spending gets too far out of hand, capital moves to Bitcoin. Competition benefits customers, and this applies even in the market for money. In this way, Bitcoin will help preserve dollar dominance.”
It is not the first time Armstrong has said Bitcoin will help the dollar by serving as a non-sovereign alternative in times…