- Coinbase CEO Brian Armstrong urges governments to allocate a portion of their gold reserves to Bitcoin, viewing it as a modern, stronger store of value.
- He predicts Bitcoin could surpass gold’s $18 trillion market cap within 5-10 years, potentially reaching $1 million per BTC.
As Bitcoin price surged 4%, reaching the crucial resistance of $106K, Coinbase CEO Brian Armstrong has shared his opinion, weighing the largest crypto asset class above Gold while predicting that Digital Gold would overtake the yellow metal in the future by reaching $1 million value.
Coinbase CEO Brian Armstrong Champions Bitcoin Over Gold
Calling Bitcoin a better form of money than Gold, Coinbase CEO Brian Armstrong highlighted BTC’s key aspects of scarcity, portability, and divisibility as major advantages. Furthermore, Armstrong also predicted that Bitcoin, which has a current market cap of just over $2 trillion, will overtake Gold with a market cap of $18 trillion. Thus, this could mean a near 10x surge in the BTC price, taking it to over $1 million. Interestingly, Armstrong predicts this to happen over the next 5-10 years.
In a detailed post on X (formerly Twitter), Armstrong outlined his reasoning. While acknowledging gold’s decentralization and scarcity, he argued that BTC is more portable, fungible, and has superior divisibility. Furthermore, Armstrong emphasized the transparency of Bitcoin transactions on the blockchain, contrasting it with the challenges of verifying gold’s purity.
Today, Bitcoin's market cap of ~$2T represents about 11% of gold's market cap of ~$18T.
Bitcoin is a better form of money. It has the decentralization and scarcity of gold, but better divisibility, portability, and (i think) even fungibility. It's relatively harder to tell if… https://t.co/DJJxj4EA6n pic.twitter.com/51LSKaU49a
— Brian Armstrong (@brian_armstrong) January 23, 2025
Additionally, the Coinbase CEO highlighted Bitcoin’s significant growth potential noting that its market cap is just 11% that of Gold’s. He proposed that nations consider initially allocating at least 11% of their gold reserves to Bitcoin, gradually increasing their holdings as Bitcoin’s market cap expands.
Armstrong Pushes for Nation States to Announce Bitcoin Reserves
The Coinbase CEO has called for governments to allocate part of their Gold reserves to Bitcoin. He further argued that BTC serves as a strong store of value and a more contemporary asset for strategic reserves.
“If the U.S. leads by creating a Strategic Bitcoin Reserve, other G20 nations will likely follow,” Armstrong predicted. In a recent update, we covered the growing chances of the US announcing a strategic Bitcoin reserve under the Donald Trump administration.
Former President Donald Trump bolstered this trend by signing an executive order to establish a “national digital asset stockpile,” aiming to integrate Bitcoin and other digital assets into the country’s financial strategy. As detailed in our last news piece, Donald Trump has also issued an executive order canceling central bank digital currency (CBDC) and instead decided to favor stablecoin, which would help expand USD dominance worldwide.
On the other hand, South African Reserve Bank (SARB) Governor Lesetja Kganyago dismissed the notion of governments holding BTC reserves, questioning the asset’s strategic significance. He contrasted it with gold, highlighting the latter’s longstanding role as a currency standard and a reliable store of value.
