Coinbase CEO Brian Armstrong says Bitcoin is good for the US dollar, challenging the view that the largest cryptocurrency by market capitalization was designed to replace the dollar as the global reserve currency.
“Bitcoin is good for the USD,” Armstrong wrote in an X after earlier today. “It creates competition in a way that is healthy for the dollar, which helps provide a check and balance against high inflation and budget deficits,” he added.
Bitcoin helps expand the ‘American experiment’
Armstrong’s X-post included a clip of an interview he had Thursday about Tetragrammation with Rick Rubin.
In the interview, the Coinbase CEO said that Bitcoin “provides a check and balance on the dollar in the sense that if there are too many budget deficits or inflation in the US, people will flee to Bitcoin in times of uncertainty.”
“It may be OK to have 2-3% inflation if the economy is growing at 2-3%, but if inflation exceeds the growth of the economy, you end up losing reserve currency status, and that would be a huge blow to the United States,” he said.
Armstrong further argued that BTC indirectly keeps the dollar in check by ensuring that the US Federal Reserve and financial regulators avoid actions that could undermine confidence in the US economy.
“So I actually think Bitcoin is helping to expand the American experiment in a strange way,” he concluded.
The US debt is growing at more than $69,000 per second, almost $6BA per day
Armstrong’s comments come as the U.S. national debt continues to rise. According to data from USDebtClock.orgthe U.S. national debt stands at over $38.538 trillion as of 2:02 a.m. EST.
Moreover, the deficit has increased by $69,433.37 per second over the past year as of December 17, with combined government and intragovernmental debt rising by almost $6 billion per day. according to to the debt dashboard of the Joint Economic Committee of the US Congress.
Amid soaring debt, JPMorgan touted Bitcoin and gold as a “debasement trade” in early October.
Although Trump signed an executive order earlier this year to create a US strategic Bitcoin reserve, little progress has been made in establishing the reserve.
From a price perspective, BTC managed to rise to a new all-time high (ATH) above $126,000 on October 6, but has corrected more than 29% since then.
BTC price (Source: Coin gecko)
Meanwhile, gold has continued its rally, posting another ATH above $4,540 per ounce on Friday.
Peter Schiff says the Dollar’s reign is coming to an end
According to gold investor and Bitcoin critic Peter Schiff, the US dollar’s reign as a global reserve currency may already be coming to an end.
In a December 26 message, Schiff predicted that gold will take over from the US dollar as the “central bank’s primary reserve.”
King Dollar’s reign is coming to an end. Gold will take the throne as the central bank’s main reserve. That means the US dollar will crash against other fiat currencies, and America’s free ride on the global gravy train will come to an end. Prepare for a historic economic collapse.
— Peter Schiff (@PeterSchiff) December 26, 2025
“That means the U.S. dollar will crash against other fiat currencies, and America’s free ride on the global gravy train will come to an end,” Schiff said.
“Prepare for a historic economic collapse,” he warned.
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