$BTC The dollar is in danger and Bitcoin is the alternative. Fire warnings from the CEO of Coinbase amid an explosion of American debt.

The CEO of Coinbase, Brian Armstrong, has issued a striking warning about the future of the global financial system, emphasizing that the rise in government debt, especially in the United States, may pave the way for Bitcoin to become the global reserve currency.

In his speech during the company’s annual summit in New York, Armstrong stated: “Democratic systems around the world are suffering from increasing deficits without oversight... Throughout history, when currency is divorced from hard assets, it always ends with overprinting and monetary collapse.”

He noted that the rise in Bitcoin prices coinciding with American debt reaching record levels is not just a coincidence, adding: “I want the dollar to maintain its position as the global reserve currency, but if the financial situation is not repaired, the world may have to rely on Bitcoin, whether we like it or not.”

He also ruled out the possibility of the Chinese yuan being a potential alternative, due to what he described as “China's internal debt problems.”