Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong stated his confidence that Bitcoin (CRYPTO: BTC) may become the new global reserve currency for the world.
What Happened: In an interview yesterday, Armstrong stated his belief that the U.S. dollar is going to further lose relative dominance. He further said that once the U.S. dollar was no longer supported by gold, its failure was inevitable. In other words, Armstrong claimed that in order for a fiat currency to protect itself, it must be secured by a hard commodity. Once this tie is broken, he believes, fiat currencies will indisputably have a downfall.
