• About
  • Contact Us
Sunday, July 3, 2022
Cryptos Newz
No Result
View All Result
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
No Result
View All Result
Cryptos Newz
No Result
View All Result
Home Cryptocurrency News

Crypto Needs 5-10x Growth to Become an Inflation Hedge: Coinbase CEO

Crptoz by Crptoz
June 10, 2022
in Cryptocurrency News
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Meta to Shut Down Digital Wallet Novi Less Than a Year After its Launch

Here’s How Bitcoin Family’s investment Is Doing



In the latest interview, Coinbase CEO Brian Armstrong shares his thoughts on the broader market amid a month-long dump and the company’s forward trajectory. He also commented on Ray Dalio’s “The Changing World Order” theory, saying that if crypto adoption continues to increase, a new world order may revolve around a decentralized West competing with a centralized East.

crypto as a hedge

Comparing the current bear market to the previous ones, Coinbase CEO Brian Armstrong said in his latest interview that this time it has shown very different characteristics. Primarily, crypto now has many more use cases than in earlier cycles. Moreover, this time around there was no blow-off top in the price of the token, meaning that 85% below ATH may not happen for the major cryptocurrency.

He attributed the change in cycle conditions partly to the macroeconomic environment, which had accelerated crypto dumps as investors viewed the asset as akin to risky tech stocks.

Separately, he believes that the total market cap of cryptocurrency probably needs to increase 5-10x to hedge the asset class against inflation – an approach commonly advocated by some crypto experts.

A Super App Wallet

During the bear market, the CEO said that his company will focus on innovation and development of new products. Notably, the exchange is working on an advanced decentralized wallet that not only provides transactional functionality but also includes a set of features such as personal identification, profile page and reputation score.

In addition to being a financial product, a wallet can be a social platform with interfaces such as social feeds and status, as well as a platform for artists and musicians to showcase their works. In his view, all aspects of a super-app-like wallet explain why Web3 is the next generation of the Internet.

A decentralized West Vs. a centralized former

Renowned hedge fund manager Ray Dalio famously said that the current system of the world – as dominated by the US – is likely to change with the increasing challenges posed by developing countries such as China.

Armstrong acknowledged that the US is in decline – an idea in common with Dalio – while China is on the rise, Armstrong said, adding that the new world order may not be “country-centric”.

With bitcoin rising as a candidate for the new global gold standard, Armstrong argued that a decentralized monetary system establishing BTC as the world’s reserve currency could give a boost to the Western Hemisphere again. He said that if the West does not act, China may one day replace the yuan with the dollar.

“Crypto represents a very attractive alternative for West and Western values ​​to embrace decentralization as a fundamentally new world order, otherwise, the Chinese yuan could become the world’s new reserve currency… In fact it may be beneficial for a centralized East to compete with a decentralized West.”

Special Offer (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month (terms).

PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.


Related Posts

Cryptocurrency News

Meta to Shut Down Digital Wallet Novi Less Than a Year After its Launch

July 3, 2022
Cryptocurrency News

Here’s How Bitcoin Family’s investment Is Doing

July 3, 2022
Cryptocurrency News

Bitcoin Legalization Pushed By Mexican Senator, Despite Central Bank’s Opposition | Bitcoinist.com

July 3, 2022
Cryptocurrency News

Bitcoin Will Be a Failure Even If It Hits $100,000, Says “Black Swan” Author

July 3, 2022
Cryptocurrency News

Bitcoin Dipped Below $19K: Crypto Eyes Another Red Week (Market Watch)

July 3, 2022
Cryptocurrency News

Celsius Lays Off 150 Employees as Crypto Winter Deepens (Report)

July 3, 2022
Next Post

Altcoins Can Surge Double Digits If Bitcoin (BTC) Price Hits This Level!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Man Who Broke into Terra Founder’s House Was Crypto Investor Who Lost 3 Billion Won

May 16, 2022

When SHIB? Robinhood CBO States They Seek Compliant Ways to Increase Crypto Offering

February 9, 2022

Dock Launches Ambassador Program – Press release Bitcoin News

January 17, 2022

Why You Should Stack Sats To Celebrate Father’s Day

June 19, 2022

Ted Cruz: Texas Should Be “Ground Zero” for Crypto Industry

March 3, 2022

EDITOR'S PICK

OpenSea Announces Smart NFT Marketplace Seaport

May 22, 2022

Bitcoin price falls below $20K for first time since 2020

June 18, 2022

Bitcoin of America adds Dogecoin to ATMs

March 23, 2022

Bitcoin․com Exchange Market Insights Report for May 2022 – Promoted Bitcoin News

May 17, 2022

About

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow us

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Cryptocurrency News
  • Ethereum News
  • How To Buy Crypto
  • News
  • Uncategorized

Recent Posts

  • Meta to Shut Down Digital Wallet Novi Less Than a Year After its Launch
  • Here’s How Bitcoin Family’s investment Is Doing
  • Crypto’s ongoing crisis is an opportunity for realignment
  • Laminate This: What to Say to Crypto Haters – Decrypt
  • Home
  • News
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.