Coinbase CEO Brian Armstrong has revealed he buys more Bitcoin every week, further betting on his long-term conviction in the leading cryptocurrency in the world. The announcement was made on X (previously Twitter) when Coinbase stock hit a new all-time high of $375.25, surpassing its all-time high in November 2021.
Armstrong has long been bullish on Bitcoin, often predicting its price could reach millions. He also thinks that it is just a matter of time before nations begin to hold Bitcoin on their balance sheets, a move that could change the global economic balance of power.
While some may regard it as wishful thinking, but others mention such early adopters as El Salvador and the Central African Republic. His frequent Bitcoin buys, both token and tactical, are part of a larger pattern of crypto leaders and institutions that consider Bitcoin as a hedge against inflation and financial turmoil.
The rally of Coinbase follows a difficult time in the crypto industry. The 2022 FTX crash shook confidence, but Coinbase managed to survive and recover even stronger. Its recent addition to the S&P 500 bodes well for increased Wall Street backing and is a significant step toward mainstream acceptance.
There is also increasing regulatory support. In the U.S., bipartisan work is leading to the introduction of clear crypto regulations, particularly regarding stablecoins, custody, and DeFi. The crypto innovation is gaining momentum with President Trump supporting it.
With institutional funds pouring in and people gaining confidence in the platform, Coinbase is not only an exchange of cryptocurrencies but also a gateway between the old and the new economy.
Also Read: Coinbase Stock Hits All-Time High After 40% Surge in a Month
