
Coinbase CEO champions Bitcoin as the "new gold standard" at Davos, advocating for its use as a strategic reserve by central banks.
Davos 2025 debates Bitcoin reserve, TRUMP token, and the crypto industry's bright future under Trump's pro-crypto presidency.
Recently, intense discussions centered around Bitcoin, memecoins, and the future of the cryptocurrency industry at the 2025 World Economic Forum in Davos, Switzerland with the US President Donald Trump
Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President returning to the Oval Office.
Will Bitcoin Reserve Come To Pass?
In the only cryptocurrency session at this yearโs forum, industry leaders shared a hopeful view of the sector in the US, even with the excitement around the launch of the Official Trump (TRUMP) token. Notably, during the session, Coinbase CEO Brian Armstrong noted that the rise of the TRUMP memecoin would not hinder efforts to create a Bitcoin strategic reserve, an idea supported by Trump in 2024.
He said, “I donโt think it undermined anything with the strategic Bitcoin reserve. That effort is still alive and well. Cynthia Lummis in the Senate is really pushing that idea.”
The idea of creating a Bitcoin reserve was promoted by figures like Lummis, Trump, and MicroStrategyโs Michael Saylor at the Bitcoin 2024 conference in Nashville. At the WEF session, Armstrong provided further details on the proposal to the delegates.
โMany governments hold gold but I think they should hold Bitcoin because it is essentially the new gold standard. I think a very core principle is that you should hold assets which maintain value over time,โ he emphasized.ย
South Africa Unlikely To Follow
However, Lesetja Kganyago, governor of the South African Reserve Bank, doubted South Africa would follow the US in stockpiling Bitcoin. He questioned Bitcoinโs value as a reserve, highlighting the countryโs focus on CBDCs and blockchain. However, Armstrong responded by highlighting the core principles advocated by Bitcoin proponents, authors and advocates in recent years.
He underscored that it is provably scarce, just like gold, but itโs more portable and divisible. He also noted its higher utility and called it the best-performing asset of the last 10 years.
- Also Read :
- Goldman Sachs CEO Talks Bitcoin, Says Itโs Not a Threat to the US Dollar, Calls it Speculative
- ,
Scaramucci Criticises Democrats Unclear Stance
Armstrong emphasized Bitcoinโs advantages over traditional reserve assets and suggested central banks could acquire more BTC than gold over time. Besides, Anthony Scaramucci criticized the Democratic Party for not having a clear stance on crypto, as Trump failed to mention cryptocurrency in his inaugural function.
Nevertheless, Armstrong highlighted that โthe Trump effectโ could not be denied and the new presidency has given the cryptocurrency industry newfound optimism and room to breathe and grow in the US.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.