Coinbase’s CEO has revealed that he remains as bullish as ever despite the recent events in the crypto space.
When asked about his mission in the crypto space, Armstrong said the long-term goal is to promote economic freedom to people all over the world. He said;
“The mission is very long-term, and it’s almost timeless, right? There are many different ways to improve the world. But one of them is, like, if you basically let people who try good things keep the upside of their labour, they’re going to try more things.”
He added that blockchain technology would deliver the economic freedom needed all over the world. Thanks t blockchain technology, anyone can store their own assets in a way that can’t be taken away from them. People can also engage in free trade because crypto is inherently global.
Armstrong said he remains bullish about crypto because it offers solutions that the traditional financial ecosystem doesn’t. He lamented the difficulty in moving funds all over the world prior to the launch of Bitcoin and the emergence of the broader crypto space. At some point, Armstrong said the global financial ecosystem stopped innovating until Bitcoin came along.
Although crypto adoption continues to increase, the Coinbase CEO believes there is still some way to go. He said;
“I thought that in a high inflation environment, people might use bitcoin more, like in the way you do with gold. I think it turns out we were a little bit early for that.”
He also revealed that he doesn’t trade cryptocurrencies. Instead, he holds crypto through the ups and down.
Armstrong also said that the crypto market had gone through worse periods compared to this one (referencing the FTX collapse.) According to the Coinbase CEO, Bitcoin and the broader crypto market will bounce back with time.
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