According to a reliable report, Coinbase, the leading U.S.-based crypto exchange, is gearing up efforts to position Bitcoin as a strategic reserve asset for the United States, as CEO Brian Armstrong announced in a company blog post on Friday.
The proposal, which aligns with growing global interest in sovereign Bitcoin reserves, could mark a turning point in Washington’s approach to digital assets.
JUST IN: ???????? Coinbase endorses creation of a US Government Strategic Bitcoin Reserve.
— Watcher.Guru (@WatcherGuru) January 17, 2025
Armstrong’s call for a Bitcoin reserve comes when numerous states are introducing legislation to establish a Bitcoin strategic reserve one after another. Also, nations like El Salvador and financial giants like BlackRock are doubling down on Bitcoin exposure. Coinbase argues that the U.S. must act swiftly to maintain its financial leadership in an era of decentralization.
“The next global arms race will be in the digital economy, not space,” Armstrong wrote. “Economic growth comes from free market capitalism, deregulation, small government, and technological innovation. 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.”
A source close to Coinbase confirms that the company has been engaging with policymakers in both the Senate and the Treasury Department.
Armstrong urges global leaders to embrace tech-driven policies in the upcoming year by taking four key actions. First, implement legislation that encourages crypto firms to remain within their home countries. Second, create strategic Bitcoin reserves, saying that the next major global competition will unfold in the digital economy rather than in space.
Third, designate special economic zones designed for the digital asset industry. Incorporating regulatory sandboxes to foster innovation. Lastly, he urged authorities to enhance government efficiency, highlighting initiatives like the Department of Government Efficiency (DOGE), whose name playfully nods to Elon Musk’s favored cryptocurrency.
Despite Coinbase’s lobbying efforts, the Biden administration remains cautious about Bitcoin’s integration into national reserves. Treasury officials have cited volatility concerns and the need for strict regulatory oversight.
However, with growing bipartisan support for pro-crypto legislation and Trump’s recent pro-bitcoin stance, Coinbase is betting that Washington may soon adopt a more favorable stance.
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