Coinbase, the United States’ largest crypto exchange, is endorsing the creation of a US strategic Bitcoin reserve. CEO Brian Armstrong shared a blog post on Friday to Axios promoting “economic freedom” and supporting the establishment of this reserve. It is also the first time Coinbase has specifically addressed the idea of a strategic bitcoin reserve. The endorsement comes just before the second inauguration of Donald Trump and Armstrong’s trip to the World Economic Forum.
JUST IN: 🇺🇸 Coinbase endorses creation of a US Government Strategic Bitcoin Reserve.
— Watcher.Guru (@WatcherGuru) January 17, 2025
In his Coinbase blog post Friday, Armstrong addressed world leaders and policymakers on how cryptocurrency does more good than bad. According to the Coinbase CEO, crypto can accelerate economic freedom. “Economic growth comes from free market capitalism, deregulation, small government, and technological innovation,” he wrote. “If the rest of the G20 wishes to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets.”
In addition, Armstrong outlined four key steps for government officials to take in protecting cryptocurrency and economic freedom. The first would be passing pro-crypto regulation, which goes hand in hand with the second: launching a strategic Bitcoin reserve. “The next global arms race will be in the digital economy, not space,” he writes in the post. Third, Armstrong promotes establishing special economic zones for the digital asset economy. Finally, he wrote in support of the new Department of Government Efficiency (DOGE), led by Elon Musk, saying that we need to make governments more efficient. “Crypto adoption and usage has reached escape velocity,” Armstrong wrote Friday.
Also Read: Massachusetts Senator Introduces Bill to Create a Bitcoin Reserve
“As a company, we’ve always been focused about how the crypto markets are as clear as possible. So the rules around market structure as they relate to the CFTC and SEC have always been paramount to us,” Faryar Shirzad, Coinbase’s policy chief, told Axios this week. Coinbase has been at the forefront of pro-crypto policies and regulation in the past years. Armstrong, in particular, has taken up being the voice of crypto against the SEC and other regulators. Recently, Coinbase launched Bitcoin loans for US users. The launch allows users in the United States to get BTC loans directly from the cryptocurrency exchange
“At Coinbase our mission has always been to increase economic freedom in the world,” Coinbase’s blog reads. “Just like freedom of speech or religion, economic freedom is essential for a prosperous society and civilizational progress. And we believe that crypto is the most important technology that can bring economic freedom to the world.”
Ahead of Donald Trump’s inauguration, the United States is shining more of a light on Bitcoin’s future. Multiple states nationwide are looking at crypto options now, with some even already proposing and supporting a strategic bitcoin reserve.