Coinbase CEO: Fiat currencies and cryptocurrencies will coexist for a long time

Coinbase CEO Brian Armstrong said that Bitcoin and cryptocurrency may be key to continuing Western civilization.

He pointed out that no matter which country has a reserve currency, its natural tendency is to expand the money supply and increase deficit spending until fiat currency loses its advantage. Currently, people assume that the United States can continue to expand, but what many people may not have considered is that people now have an alternative currency in cryptocurrency. They may start transferring fiat currency to cryptocurrency to resist inflation.

Contrary to some people's assumptions, I do not believe that this will pose a threat to the US dollar and the United States. I believe this will be a natural balance and supplement to the US dollar and the best defender of long-term interests (and wider Western civilization). Turning to cryptocurrency from the US dollar is better than turning to fiat currency from other countries or regions. I also believe that fiat currency and cryptocurrency will coexist in the long term. They are more complementary than alternative. Stablecoins supported by the US dollar (such as USDC or Flatcoin) will play an important role in unifying these two worlds.