Coinbase, the largest cryptocurrency exchange in the United States, has publicly endorsed the creation of a US strategic bitcoin reserve. This endorsement came Friday in a blog post by CEO Brian Armstrong focused on “economic freedom,” shared exclusively with Axios ahead of its release. The timing is notable, coming just before President Trump’s second inauguration and Armstrong’s attendance at the World Economic Forum.
Armstrong, who has become a prominent voice for the crypto industry in Washington, has taken a more assertive stance with regulators than many of his counterparts. This marks the first time Coinbase has explicitly supported the concept of a strategic bitcoin reserve.
Coinbase, a publicly traded company with a market capitalization of $73 billion, has amassed significant influence in recent years. The company was a key funder of Fairshake, a network of political action committees that played a substantial role in Congressional elections. Coinbase also supports Stand With Crypto, an advocacy group claiming over two million members.
In his blog post, Armstrong addresses world leaders and policymakers, arguing that cryptocurrency can accelerate economic freedom and warning of the dangers of inaction. “Economic growth comes from free market capitalism, deregulation, small government, and technological innovation,” he writes. “If the rest of the G20 wishes to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets.”
Armstrong outlines four key actions for world leaders to take in the coming year:
- Pass laws to retain crypto firms domestically.
- Establish strategic bitcoin reserves. He argues, “The next global arms race will be in the digital economy, not space.”
- Create special economic zones for the digital asset economy. This echoes discussions around regulatory sandboxes.
- Improve government efficiency. He specifically mentions the Department of Government Efficiency (DOGE), whose name references Elon Musk’s favored cryptocurrency, Dogecoin.
Armstrong has reportedly had two private meetings with President Trump, one before and one after the election, according to sources familiar with the meetings.
