Bitcoin Helps USD's Reserve Status: Coinbase CEO

Coinbase CEO Brian Armstrong asserted that Bitcoin acts as a crucial check and balance on the US dollar by creating competition that pressures policymakers toward fiscal discipline. He argued that if the US engages in excessive deficit spending or inflation, people will move to Bitcoin during uncertainty, which would otherwise lead to the loss of the dollar's reserve currency status—a massive blow to the US. Armstrong concluded that, in a strange way, Bitcoin is helping to extend the American experiment by ensuring the Federal Reserve avoids actions that undermine confidence. This perspective contrasts with others who suggest stablecoins might play a larger role in preserving dollar dominance by facilitating global dollar transactions.

(Source：Cointelegraph)