Coinbase CEO Proposes Bitcoin as Hard-Backed Currency to Tackle US National Debt

Coinbase CEO Brian Armstrong has proposed using Bitcoin as a 'hard-backed currency' to address the United States' $39 trillion national debt. He suggests constitutional reforms and leveraging technologies like AI and cryptocurrencies to drive economic growth.

The idea has sparked debate in the crypto community, with some expressing strong market support for Bitcoin reaching $65,000 by July 2026. However, skepticism about higher targets exists, highlighting ongoing discussions about Bitcoin's role in global finance.

No concrete actions have been taken yet to implement Armstrong's proposal, but it has influenced Bitcoin price predictions and investor sentiment. In related news, Ethereum has outperformed Bitcoin recently, supported by strong ETF inflows exceeding $128 million and growing on-chain activity through Robinhood's new Layer 2 chain.