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Bitcoin and the Dollar: Industry Leader Discusses Potential Positive Impact
Source: CryptoNewsNet Original Title: Coinbase CEO Brian Armstrong Defends Bitcoin (BTC) and the Dollar! Original Link: The excitement for the new year seems to have begun in the cryptocurrency market. Bitcoin and altcoins started the new week with gains.
As Bitcoin (BTC) surged above $90,000, the upward wave was also seen in altcoins. Ethereum (ETH) also rose, surpassing the $3,000 level again, indicating an upward trend in altcoins as well.
With a positive sentiment prevailing in the market, a CEO from a major compliant platform stated that Bitcoin could have a positive impact on the US dollar.
In an interview, the executive argued that Bitcoin provides healthy competition for the US dollar, forcing policymakers to maintain fiscal discipline and helping to preserve the dollar’s dominance.
According to the statement, Bitcoin indirectly helps keep the dollar in check by preventing the Fed and financial regulators from taking actions that could undermine confidence in the US economy.
The executive also emphasized that Bitcoin, rather than replacing the existing monetary system, could serve as a complementary tool to strengthen market oversight and the discipline of monetary policy and fiscal governance.
These remarks are noteworthy because they come at a time when real assets like gold and silver, seen as alternatives to Bitcoin, have recently reached record highs, and the debate about Bitcoin’s potential as a hedge against inflation has resurfaced.