- Coinbase CEO, Brian Armstrong, has claimed in a blog post that nations around the world need to embrace crypto in order to ensure their economic futures and protect their citizens.
- Armstrong argues there’s a rising tide of Marxism and a reduction in financial freedom taking place, which only crypto and measures like strategic Bitcoin reserves can combat.
- Meanwhile, Wyoming has become the latest US state to propose establishing a strategic Bitcoin Reserve, following other states such as Pennsylvania, Texas and Massachusetts.
Coinbase CEO, Brian Armstrong, has urged nations around the world to adopt pro-crypto policies to combat what he sees as the global rise of communism and an associated reduction in economic freedom.
In his Coinbase blog on January 17, Armstrong pointed to China’s stalled economic growth in the wake of the COVID pandemic as proof that Marxist policies don’t work, insisting the world needs to embrace crypto as “the next chapter of capitalism” which will unleash “the age of economic freedom”.
He said 2025 was the year that governments around the world should go full crypto-bro by creating laws to help the industry thrive, establishing strategic Bitcoin reserves, creating crypto special economic zones, and improving government efficiency.
Bitcoin as a reserve asset is gaining traction. Wyoming has become the latest US state to introduce a bill to establish a strategic Bitcoin reserve that would allow the state to allocate up to 3% of its permanent funds to diversify into Bitcoin.
Related: Bitcoin Reserve Trend Grows: More States, Countries Consider Adding BTC to Their Coffers
Crypto Is the Next Great Arms Race Not Space, Says Armstrong
Armstrong used his blog to argue that the race is now on for governments around the world to establish dominant positions in the emerging digital economy:
The next global arms race will be in the digital economy, not space. Bitcoin could be as foundational to the global economy as gold and will become central to national security in a world where holdings of bitcoin can shift the balance of power among nation states.
Brian Armstrong, Coinbase CEOHe said countries that are quick to establish Bitcoin reserves will be “securing and uplifting their national economies” while those who fail to do so will “lose their footing”.
The Coinbase CEO also argues that governments that fail to create regulatory regimes that encourage the digital assets industry will drive it offshore to friendlier jurisdictions and be left behind.
Armstrong ends on a slightly megalomaniacal note by suggesting that the fate of civilisation depends on governments creating crypto-friendly laws (I’m sure it’s just a coincidence that he’s also the CEO of a crypto exchange):
We must embrace economic freedom, and vote Marxist leaders out of office. Civilizational progress depends on it.
Brian Armstrong, Coinbase CEOWyoming Looks to Establish Bitcoin Reserve
It’s unclear if communist fears factored into their decision-making, but a growing number of US states are proposing to establish strategic Bitcoin reserves. This includes Pennsylvania, Texas, Ohio, New Hampshire, Oklahoma, North Dakota, Massachusetts, and most recently — Wyoming.
The bill proposing Wyoming establish a strategic Bitcoin reserve was introduced by Representative Jacob Wasserburger last week. If passed into law it would allow the Wyoming treasurer to apportion up to 3% of the state’s permanent funds (which includes its general fund, land fund and mineral fund). The bill includes a clause stating that if the value of the bitcoin held by these funds grows to exceed 3% of the total value it doesn’t need to be sold.
Wyoming Senator, Cynthia Lummis, who last year introduced a bill proposing the US federal government establish a strategic bitcoin reserve praised Wasserburger’s bill on X / Twitter:
Related: Two More US States Eye Bitcoin Reserves, While Kenya Ramps Up Efforts to Legalise Cryptocurrencies
Until recently it was considered unlikely any US government, state or federal, would actually establish Bitcoin reserves in the short-term, but now it’s looking more likely than not. The odds of the US government creating a Bitcoin reserve this year are currently over 60% on the two largest blockchain-based prediction markets Polymarket and Kalshi.
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