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Bitcoin is helping reinforce the US dollar\u2019s reserve currency status by acting as a market check on excessive inflation and deficit spending, Coinbase CEO Brian Armstrong said.<\/p>\n
Coinbase CEO Brian Armstrong has claimed Bitcoin provides healthy competition for the US dollar, which in turn pressures policymakers to maintain fiscal discipline and helps preserve the US dollar\u2019s dominance.<\/p>\n
\u201c[Bitcoin] provides a check and balance on the dollar in the sense of if there’s too much deficit spending or inflation in the US, people will flee to Bitcoin in times of uncertainty,\u201d Armstrong argued<\/a> in an interview on Tetragrammation with Rick Rubin on Thursday.<\/p>\n \u201cIt might be okay to have 2-3% inflation if the economy is growing at 2-3% but if inflation outstrip<\/a>s the growth of the economy, you’ll eventually lose the reserve currency status, and that would be a massive blow to the United States.\u201d<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n