Brian Armstrong, CEO of Coinbase, discusses the significance of Bitcoin in light of the United States’ staggering $30 trillion increase in national debt over the past 28 years.
Robert Sterling, CFO of 20 Dollar Consulting, underscores the concerning pace at which the US debt has expanded, highlighting a bipartisan trend of fiscal expansion across successive administrations.
Sterling notes that the escalation in debt accumulation commenced during the tenure of George W. Bush and persisted through the administrations that followed. Key milestones were reached due to factors such as military expenditures, tax reductions, the Great Recession, and, more recently, the COVID-19 pandemic.
In response to this fiscal trajectory, Armstrong advocates for Bitcoin as a potential solution. He posits that Bitcoin represents a return to a semblance of financial discipline akin to the gold standard, which was abandoned in 1971.
Armstrong argues that cryptocurrency could serve as a crucial check on the incessant growth of deficit spending, which he believes is essential for safeguarding the strength of the US and its currency.
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