Coinbase CEO Brian Armstrong: Being anti-crypto is ‘really bad political strategy’
According to the entrepreneur, 38% of young people believe crypto can increase economic opportunities.
Coinbase CEO Brian Armstrong has explained why he believes a tough stance on crypto is strategically ineffective for United States politicians hoping to get elected in 2024.
On Dec. 19, Armstrong posted a video of U.S. Senator Roger Marshall admitting that the American Bankers Association (ABA) helped to craft the Digital Asset Anti-Money Laundering Act, also known as the “crypto ban” bill. The entrepreneur suggested five reasons he believes “being anti-crypto is a really bad political strategy going into 2024.”
First, Armstrong wrote that 52 million U.S. citizens hold crypto. Second, 38% of young people believe crypto can increase economic opportunities. Also, crypto prices are up 90% year-to-date, while only 9% of Americans are “satisfied with the current financial system.” The fifth reason, according to Armstrong, is that the Stand With Crypto Alliance, a 501(c)(4) nonprofit advocating the crypto industry among elected politicians, is “on its way” to one million supporters.
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