Coinbase CEO Says Crypto at the Dawn of New Era, Offers ‘Big Reason’ Why People Are Flocking to Bitcoin

The CEO of the largest crypto exchange in the US thinks the digital asset industry is entering a new phase.

In a new interview on CNBC, Brian Armstrong says that Donald Trump’s successful bid to return to the White House and the victory of pro-crypto legislators in the recent elections will be bullish for crypto.

“It’s really the dawn of a new crypto era with this election that just happened because it’s the most pro-crypto congress ever… We couldn’t be in a better position to finally get some clarity and start to rebuild the crypto industry in America again.”

He says Bitcoin (BTC), which recently hit a new record high above $90,000, has more room for growth even as people become aware that there are other assets in the crypto space.

“I think Bitcoin will be the most important crypto asset for a long time. It’s got a lot of runway to move as well.”

He also says the economic issues the US is dealing with drive the surging demand for the flagship crypto asset.

“There’s a massive issue in the United States with the deficit, with inflation and I do think that Bitcoin is a check and balance on irresponsible deficit spending. To really extend the American experiment for a couple hundred more years,  it’s important that we don’t devalue the dollar, lose the reserve currency status and that’s a big reason why people are buying Bitcoin now.”

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