Coinbase CEO Brian Armstrong publicly announced that they purchase Bitcoin every week, reaffirming his bullish stance on the world's largest cryptocurrency.
This statement was made as Coinbase's stock price hit a historic high of $375.07, surpassing the record set in November 2021, and was announced on X (formerly Twitter).
This remark indicates that Armstrong and his company firmly believe that Bitcoin is a long-term store of value. Armstrong has repeatedly stated that Bitcoin's price could one day reach millions of dollars.
Armstrong also mentioned that countries will soon start incorporating Bitcoin into their balance sheets, a shift that could redefine global demand and make the asset a participant in world politics. Some consider this overly speculative, but others point out that countries like El Salvador and the Central African Republic have already taken steps in this direction.
Whether symbolic or strategic, Armstrong's ongoing purchases of Bitcoin reflect a growing trend among cryptocurrency leaders and institutional investors who view BTC as a tool for hedging against inflation, currency volatility, and systemic risk.
